Monday, 10 October 2011 00:00

Crude Oil Prices Status at the Start of October

Crude oil prices dropped down a lot in the last few weeks. However, the first week of October seems to show a new raising with it, but just in a very moderate tempo.

During the past days, the international economy suffered. Not just because of the weak dollar, and the unemployment insurance grow by 6,000 to 401,000, but also because of the events in Europe. Germany’s Kanzlerin Angela Merkel is ready to drive bank capital higher and to keep the Euro in the peripheries countries like Greece or Spain. There are some really pessimistic and realistic theories about the importance of this step [townhall]

However, all these influenced the prices of crude oil. According to the latest data's, the WTI is around $82.87 per barrel, and the European Brent light shows a value of $105.88 per barrel. Good times for bargain hunters...

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