Today.Az » Business » World oil prices rebound after two days of fall
01 August 2009 [10:55] - Today.Az
World oil prices regained active growth on July 30 after two day fall, AFP reported.
Texas WTI crude oil with delivery in September contracts on which are offered on the New York Mercantile Exchange NYMEX went up by 3.57 dollar per barrel to 66.92 dollars. The price of September contracts for Brent North Sea crude oil rose 3.58 dollars to 70.11 dollars per barrel on ICE.
Experts attributes the rise in oil prices to growth in American stock indices, the level of which reached on Thursday all time high since November 2008. They say the cause of higher prices could be reports about improving economic situation in Europe and Japan.
Meanwhile, growth of quotations of American shares, which resulted in high oil prices has been very moderate. Thus, the Dow Jones industrial rose by 0.92 percent (83.51 points) to 9154.23 points. High Nasdaq rose 0.84 per cent (16.54 points) to 1984.30 points and a broad S & P's 500 - by 1.18 percent (11.55 points) to 986.70 points, AFP reported.
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