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

People get aware from world news updates
Published by Nidhigupta on July 3rd 2012 | Business
World news or global news or international news is delivered to us via internet, television, newspap...
 
The upsetting breaking news for India
Published by Nidhigupta on July 23rd 2012 | Business
In this competitive world, it has become compulsory to keep ourselves updated with all the current e...
 
Current news in several forms
Published by Nidhigupta on May 3rd 2012 | Business
Nowadays there is a tight connection in the world. The whole wide world has been turned into a globa...
 
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...
 
Get the Unlimited latest news online
Published by Nidhigupta on June 22nd 2012 | Business
People have developed a general awakening amongst them and are very much interested in raising their...
 
Phoenix Pool Contractors provides various pool services in Phoenix and all our world.
Published by Microcell Systems on February 27th 2012 | Business
Premier Pools and spas is one of the most successful, accuracy and flexible custom pool builders in ...
 
Online car magazines That’s right get iauto for all the latest in automotive news
Published by James Blee on August 25th 2012 | Business
To find out more about one of the best online car magazines that South Africa has to offer, visit ia...
 
Contributing to an environmentally friendly world with CNG Systems
Published by 1300golimo on December 4th 2011 | Business
CNG is a substitute for fossil fuels such as gasoline and diesel that is quickly growing in populari...
 
Online car magazines That’s right get iauto for all the latest in automotive news
Published by James Blee on August 25th 2012 | Business
To find out more about one of the best online car magazines that South Africa has to offer, visit ia...
 
Need of current business news
Published by Nidhigupta on May 14th 2012 | Business
A great importance is in the hands of stock market whenever a person decides to invest in stock mark...
 
Aeropostale Dubai: First International shopping mall in the world of fashion
Published by Fashlink on April 24th 2012 | Business
When you need a great exposure of designs in teen and pre-teens apparel, Aeropostale Dubai is the be...
 
Time to get the latest university news
Published by Gene Crayton on August 25th 2012 | Business
Education is a never-ending process. Each day you get to learn something new which may or may not be...
 
Business News makes people aware about happenings in the world of Business
Published by Nidhigupta on June 6th 2012 | Business
Lately, the world has found numerous types of alteration which is occurring at a very rapid speed. 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 ...
 
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...
 
Stay alert by watching breaking news India
Published by Nidhigupta on June 22nd 2012 | Business
We all know that there are a number of sources like TV, radio, internet, newspapers, etc via which t...
 
The innovative era of latest news
Published by Nidhigupta on July 16th 2012 | Business
News has proved to be the essential par of our daily lives. It has become necessary to have the dail...
 
The shameful and terrible India latest news
Published by Nidhigupta on July 11th 2012 | Business
It is not a hidden fact, that India has a huge population. Thus, with such big population it is obvi...
 
Means for getting top world news
Published by Nidhigupta on May 1st 2012 | Business
The web is responsible for the dealing of the potential energy in the globe. The internet might stan...
 
The progress today news has made in world
Published by Nidhigupta on June 18th 2012 | Business
News is something that reaches out to each and everyone in the whole world. It is a very popular and...