Saturday, November 1, 2008

Crude Oil Closed Rebound In October, but Declines 33%

(Vibiznews-Commodity) - The price of crude oil trading on the Nymex exchange in the early hours yesterday (01/11) to be Rebound. The price of crude oil stronger at the end of the trading session yesterday evening. Increase the price of crude oil this happens due to the position of the float on the maturity date of the transaction contract for November gasoline and heating oil.

The price of crude oil began to show strengthening the 10 minutes before trading finished. This increase in commodity prices caused by the purchase of gasoline contract again. Contracts must be purchased gasoline is back on the maturity date because if you have experienced the maturity of the contract required the seller to send goods to the real buyers.

Prices for crude oil contract in December to 1.85 dollars strengthening of (2.8%) and on the position closed 67.81 dollars per barrel. In the evening trading session was the price of crude oil was plummet of 2.84 dollars (4.3%).

In October crude oil price has experienced a monthly decrease of 33%. This is a monthly decrease of the largest throughout history. The question in the credit sector, which has raised a threat of recession has spread to the whole world so that crude oil demand is reduced. The price of oil to trade in November is estimated to increase will not mean that.

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