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- Oil prices retreated from three-month high
Oil prices retreated from three-month high
Crude oil futures fell from a three-month high due to the fact that European leaders discussed ways to address the debt crisis in the region.
Value declined after Germany's Bundesbank Board expressed dissatisfaction about the plan of the European Central Bank started to potentially "unlimited" purchases of government bonds. In connection with this situation, European leaders are planning this week to visit with the diplomatic visit troubled countries that help them solve the debt crisis.
Also today it was announced that in June, oil production in Saudi Arabia increased by 3% to 10.1 million barrels per day, beating with Russia, which produces 9.9 million barrels per day.
During the day, the price of oil had little attention to U.S. data, which showed that the index of economic activity from the Federal Reserve Bank of Chicago in July improved to -0.13 from -0.34.
September futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now $ 95.71 per barrel.
September futures price of North Sea Brent crude oil mix is now $ 114.12 a barrel on the ICE Futures Europe Exchange.
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