Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Business News Oil price above $100 on international banking plan:

By Ahtasham Ul Haq Subscribe to RSS | December 3rd 2011 | Views:
loading
 
  



Business News Oil price above $100 on international banking plan:

Date December 1 , 2011

Oil price finished trading above $100 for the first time in two weeks on international banking plan.

The price of oil on Wednesday finished trading above $100 for the first time in two weeks, as the US and other countries made it easier for banks to lend money and keep the global economy growing.

The Federal Reserve said it will team up with the European Central Bank, the Bank of England and the central banks of Canada, Japan and Switzerland to increase the flow of dollars around the world. The coordinated move should be a shot in the arm for Europe, where a festering credit crisis has slowed the eurozone economy and threatened a recession.

Separately, China reduced the level of cash its banks are required to keep on hand in an effort to boost lending and keep the world s second-largest economy going strong.

Benchmark crude rose 57 cents to finish at $100.36 per barrel in New York. At one point it was as high as $101.75 a barrel. Brent crude, used to price many foreign kinds of oil, rose 12 cents to end at $109.98 per barrel in London.

Wednesday s price increases indicate that many oil traders think the global economy will eventually benefit

and oil demand will grow as more money flows through the banking system. The Fed added more encouraging news in its Beige Book survey released Wednesday. It showed the US economy expanding at a slow but steady pace in most parts of the country.

For now, however, oil and gas demand remains weak. The Energy Information Administration reported Wednesday that US wholesale gasoline demand fell in November to the lowest monthly average since January 2004.

"That was rather disappointing, given that last week included a holiday weekend," independent analyst and trader Stephen Schork said.

American motorists have been driving less with retail prices well above seasonal record levels.

The government reported Wednesday that oil and gasoline supplies grew last week, as imports rose and refineries slowed down because of weak demand. The weak supply and demand numbers kept oil prices from rising further.

In other energy trading, heating oil was virtually unchanged to end at $3.0214 per gallon, and gasoline futures rose 2.86 cents to finish at $2.5677 per gallon. Natural gas lost 8.3 cents to end at $3.550 per 1,000 cubic feet.

Ahtasham Ul Haq - About Author:
More Information visit the site:
http://www.wordworldnews.blogspot.com

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/business-news-oil-price-above-100-on-international-banking-plan.htm

Related Business Articles Subscribe to RSS

Get the neoteric global news now online
Published by Nidhigupta on June 27th 2012 | Business
Global news is featured on the internet. There are plenty of sufficient numbers of news websites and...
 
Get the India news today
Published by Nidhigupta on June 13th 2012 | Business
Television as we all know is the most famous and likeable source of delivering the latest news. A lo...
 
Information on how Ecommerce Puts in the Overall world Each other
Published by Alvin Baily on July 21st 2012 | Business
The worldwide country's economy is definitely floods. As the climate of the market places can not be...
 
Keep yourself updated with all the bihar news
Published by Nidhigupta on July 10th 2012 | Business
Bihar, sited in the eastern parts of the beautiful lands of India is very rich in heritage and cultu...
 
HUBLOT Replica Watches are the most effective-wanting watches in the world
Published by Zhuimeng on January 2nd 2012 | Business
A fashion type of Hublot Replica Watches can add much charm to the otherwise plain dressing style of...
 
Updates of world news through internet
Published by Nidhigupta on May 28th 2012 | Business
The most greatest aspect of these news channels is that there has been a complete merger of various ...
 
Why should businessmen read Indian business news
Published by Nidhigupta on July 2nd 2012 | Business
Since the post-independence period, India's business and trade economy has grown and has flourished ...
 
The benefits of online news
Published by Nidhigupta on June 11th 2012 | Business
The best way of watching news is online news. Online news has gained priority these days. The best t...
 
Top Latest news that woes the World
Published by Nidhigupta on May 12th 2012 | Business
News can be anything that is relevant and interesting to the readers. These days it is important for...
 
Color your commercial world with New Ideas
Published by Robert Samuels on February 22nd 2012 | Business
In order to go for better quality color printing, online is the best option. There you come across a...
 
Why our olive variety Koroneiki produce the best extra virgin olive oil in the world
Published by Oliveoil on February 12th 2012 | Business
The origin of the olive tree and the fruit is lost in the depths of centuries. But certainly it’s ...
 
Get Top news that woes the World
Published by Nidhigupta on May 7th 2012 | Business
News can be anything that is relevant and interesting to the readers. These days it is important for...
 
Learn about various sources that feature breaking news India
Published by Nidhigupta on June 25th 2012 | Business
In India, people are willing to educate themselves with the most recent and latest news about the co...
 
Logix Neo World: a world of you Happiness
Published by Rashid Mian on June 27th 2012 | Business
This article describes every one of the information linked to Logix Neo World. Logix Neo World is th...
 
Military news catering to the people with specific interests
Published by Ashish Pandey on January 12th 2012 | Business
Military news can specifically serve to a group of people who have special interests in knowing abou...
 
Getting news headlines easily
Published by Nidhigupta on May 4th 2012 | Business
People are well known that there are several types of topics along with sports and political news he...
 
Get to know about the latest India news
Published by Nidhigupta on May 30th 2012 | Business
After the independence, India has started to prosper at a large scale in every field. Due to the lat...
 
The progress Indian business news has made
Published by Nidhigupta on June 5th 2012 | Business
Since the post-independence period, India's business and trade economy has grown and has flourished ...
 
Hot off the fire Bihar news
Published by Nidhigupta on June 15th 2012 | Business
Bihar lies in the eastern part of India. It is one of the oldest inhabited places in the world. It i...
 
The variety of advancements today news has made.
Published by Nidhigupta on June 1st 2012 | Business
Today news has taken a completely new form and is presented to us in a very advanced and different w...