Oil continues its recovery after US banks rescue plan

World oil prices rose to 54 $ a barrel, continue to rise for the fifth consecutive week on expectations due to the efforts of the U.S. Treasury Department to the stability of the global financial system.

the rise of oil prices is promoted by the drop of dollar exchange rate and other primary commodities, including gold.

 
An increase in crude oil futures contracts Monday, U.S. light with a sharp rise in Wall Street and global stock markets.

 
Increased crude oil futures contracts for May delivery on the next New York Mercantile Exchange (NYMEX), or 1.73 $ per 3.32% to settle at 53.80 dollars a barrel, after trading in a range of 51.62 dollars to 54.05 dollars, which represents the highest level of crude transactions since the price of 54.62 $ on the first day of December 2008.

 
Brent crude Price raised to 57 cents to 51.79 $ a barrel.

 
The recovery of the market after the Treasury Department announced details of the U.S. plan to cleanse banks of the risky assets were valued at about one trillion dollars, it is considered a key element in its effort to pull the country out of recession.