The International Oil Prices Rised More Than 4%
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Due to continuous tense situation in the Middle East and provide support for the dollar falling oil prices, the New York mercantile exchange oil futures 21 Asian electronic dish trading prices soared. Due to increasing hedge sexual needs support, the international gold price also continued after rising momentum, on the New York mercantile exchange transactions of gold futures prices again on a high of $1,400 per ounce.
By Beijing time 21 wherefore, the New York mercantile exchange April delivery of light oil futures prices 93.3; $4 per barrel The New York mercantile exchange for April delivery gold futures rose to $1402.2 0.99% per ounce.
Fears the future supply of oil
Libya security forces in the eastern city of class add west etc with demonstrators conflict. As Opec members, Libya 2010 crude oil output an average of 16.5 million barrels, and many big oil companies in the country with business, including British petroleum (BP). BP spokesman, said the country on 21 because of unrest in intensifies, has suspended the exploitation of oil and gas in Libya western preparations.
Cicc 20 release study reports, continuous tense situation in the Middle East will push oil prices.
Cicc said, crude oil prices in recent rise, in addition to the market value of global economic recovery prospects outside, also have out of the geopolitical situation remained tight concerns. If no mollification unrest or further intensifies, will trigger a market for future supply of oil concerns. If the situation unrest spread to Opec countries, and will be of core crude oil prices have larger role.
But felt that the cicc situation is volatile oil prices impact for less than second gulf war. Because if Opec members from the core of unrest, so on yield of actual influence will be limited. Opec oil reserves about one-fifth of the world total reserve of two-thirds of the world's total output, crude oil output 36%, exports account for 80% of the world.
Cicc said oil prices will further enhance the global inflation pressure, this can and will result in emerging countries, even some developed countries, take more stringent macro-regulation and tightening measures to cope with input type inflation.
A hedge demand for gold
Recently, the international gold prices rising. The New York mercantile exchange gold futures trading day last week 5 continuous rising. Last week its 2.1 per cent this year, and were by far the biggest single week rise record.
HSBC on February 19, said gold prices, disregarding China's central bank again tightening monetary policy pressure continued to be strong, it may mean gold in the short-term have further attack on space. HSBC points out, China's central bank again raise deposit reserve rate of news for gold constitute significantly suppress once, but soon regained the gold, and with strong situation date line for the fifth consecutive Yang success last JiaoYiZhou perfect 10/10/08. This implies that the market for gold investment needs very strong.
Trade personage thinks, geopolitical tensions in the turmoil, market emerged in large hedge sexual needs, thus propped up the gold prices rising, if uncertainty continue to heat up, gold and silver prices will also rise further. Silver movements may even more than gold. Otherwise, analysts said oil prices were also good gold, oil prices Asian trading hours to go tall help limit gold downline power.
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By :
Jessie Stone
Submitted
2011-02-23 09:45:18 |
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