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Stability of oil and rising yen and the retreat of shares in Asia

Oil prices were recorded in Asia stable Tuesday, and stayed more than 127 dollars a barrel after decades resulted in the recovery of refinery products and the beginning of the Atlantic hurricane season to a rise in crude yesterday.

The price decreased by American light crude futures contract delivery in July next 11 cents or 0.09% to 127.65 dollars per barrel during electronic transactions via the system Glupeix after the price rose yesterday to            $ 127.76.
The rough seas caused the closure of two of the three main oil ports in Mexico before shipping last Sunday, with the approaching tropical low Arthur. The U.S. Energy Information Administration yesterday about the high average price of gasoline in the country to about four dollars per gallon at a record level of $ 3.98.
But the currency market witnessed a rise in the yen amid renewed transactions Asian fears of the effects of global credit crisis and the retreat of shares, which prompted investors to avoid receptacles-risk investments.
And returned fears of a new credit reduction following the institution Standard & Poors yesterday classifications companies Lehman Brothers, Merrill Lynch and Morgan Stanley, noting that expectations for the performance of major financial institutions are currently mostly negative.
The retreat of the dollar in Tokyo 0.1% to 104.33 girls, abandoned on the three-month peak of $ 105.88 NATO achieved last week.
The euro has stabilized against the U.S. currency at 1.5537 dollars, while the decline of the pound sterling 0.2%, recording $ 1.9640.
Japanese stocks retreated as index dropped Nicky record in the Tokyo Stock Exchange, given the decline in stocks of companies such as Honda Motor export after rising yen and stock losses on Wall Street.
The Nikkei index dropped 218.35 points to 14221.79, while the retreat in the broader index Topex 1.2% to 1408.33 points.

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