EnglishCrude oil jumped over 80 USD/barrel on the New York Mercantile Exchange yesterday, for the first time since October 2008 as the USD plunged to a 14-month low against the euro, thus stimulating the demand for raw materials.
The electronic platform of the New York Mercantile Exchange showed the benchmark crude for November delivery rise 44 cents (0.6 per cent) to 80.05 USD/barrel, which was the first price above the 80 USD/barrel milestone since 14 October 2008. The price later inched down below 80 USD/barrel and closed the day at 79.06 USD/barrel.
The decline was triggered by a statement by the Organisation of Petroleum Exporting Countries (OPEC) Secretary General Abdalla El-Badri, according to whom a price above 80 USD/barrel would affect economic growth.
The price of oil gained 1.4 per cent yesterday, making analysts believe that the near-future performance of the USD would favour the dynamics of both the price of oil and the price of gold. Gold for December delivery gained 5.80 USD (0.6 per cent) yesterday morning on the Comex platform of the New York Mercantile Exchange, peaking at 1,063.90 USD/ounce. Specialists believe that gold may reach 1,100 USD/ounce, after having climbed to the historical high of 1,072 USD/ounce on 14 October.
The U.S. currency traded as low as 1.4994 USD/EUR in New York, the weakest since August 2008. It then recovered to 1.4975 USD/EUR.
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Dolar SUA
Franc elveţian
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