Syrian Oil and Gaz News

sharp decline of oil and European stocks

Financial markets were closed Monday for a sharp downturn in Europe and the less the United States. This decline coincided with a sharp fall of crude prices in the face of rising U.S. dollar and stocks of oil and non-reassuring economic data.

 


Characterized by a significant decline in transactions today, the price of U.S. crude, which fell more than four dollars. In the New York Mercantile Exchange (NYMEX) futures contracts fell to U.S. crude oil settled to its lowest level in more than a month.
The sharp decline with the stock markets affected by concerns about the rapid recovery of the economy, and continued pressure on oil from the high dollar and slackening demand and rising U.S. oil inventories.

 
The crude contracts fell for the month of May next to $ 4.45 dollars, or 8.84% to 45.88 dollars per barrel at the settlement after the high reached during the trading session at 50.31 dollars.
During the meeting, also slid to 50.45 dollars, its lowest level since the price drop to $ 43.62 on 16 March. The contract expires May Tuesday.