Saturday, 21 May 2011 13:15

Oil price sinking again (WTI)

During last week the WTI price raised a bit over $100 per barrel. It seemed to be a fast recovering since the fall after April's $113/ barrel. Now, the price amounts $99.82 per barrel, just with $0.17 higher than last week.

With this event the West Texas Intermediate seems to track the actual US dollar rate. Though the dollar is still weak, it could raise about 0.7 percent to 75.626 this days.

Contrasting to the value of the WTI light sweet crude, Brent crude still remains at good rate. At the end of the week, an increase of $0.97 protects the price of $112.39. However, the decrease influenced the Brent price fast, so that after a few hours it fell to $111.89.



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