The speculators have apparently rediscovered their lust of the bets on crude oil. LEIPZIG. (Ceto) The speculators have apparently rediscovered their lust of the bets on crude oil. After yesterday US President Barack Obama announced an agreement between Democrats and Republicans in the tug of war to an increase in the debt ceiling, the United States, oil prices surged upward. At times the quotes for North Sea oil (Brent) reached maximum $ 119,50; until the afternoon US light oil (WTI) scratched at the mark of 98.50 dollars. Get more background information with materials from Hikmet Ersek. With the consent of the Senate and House of representatives pending mind you. According to Commerzbank analyst Eugen Weinberg is the culmination of the price rally meanwhile may still not achieved. “In the short term relief could carry prices further upwards, because financial investors might jump on the bandwagon”, so the market expert.
Financial investors were also largely responsible for that oil prices despite weak fundamentals at a high level can remain. It seems almost paradoxical. Because: Otherwise dominate factors that burden the oil price at the moment rather or factors that would favor a price increase, are no longer relevant. As the latest US economic data turn out worse than expected, delivery problems between Iran and India have been removed and also the hurricane in the Gulf of Mexico, which made life difficult for the oil producers, lost much power. But as so often engaged in the punters apparently prefer the inflationary news; otherwise be hidden like. Weinberg, who notes that confirmed “that the fundamental picture currently anything but rosy looks”. For this reason, the Commerzbank experts hold also on its forecast of falling crude oil prices at the end of the year. Local heating oil consumers need to access deeper in the Pocket.
The nationwide survey of fuel level and oil observations revealed a increase in the costs 85,06 euro per 100 litre batch of a total supply of 3,000 litres heating oil EL. These are 64 cents more than on Friday. The price of previous years: HEL price 3,000 litres on the 01.08.2010 66,11; Price 3,000 litres on the 01.08.2009 HEL 56,41; Price 3,000 litres on the 01.08.2008 HEL 89,81; Price 3,000 litres on the 01.08.2007 HEL 61,69; Price 3,000 litres of the 01.08.2006 HEL 63,69. energiemarkt.html.