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- Prices of oil futures rise
Prices of oil futures rise
The cost of oil rose again, recording a session with the third increase in a row, which was caused by speculation that an agreement on the prevention of automatic spending cuts and tax increases in the near future can be achieved.
Futures rose 0.8%, after U.S. President Barack Obama made a new proposal on the income, and House Speaker John Boehner could still change his opinion on the higher tax rates for certain senior employees, although earlier he denied this Agreement.
Note that the budget submitted by the President of the United States suggests to raise taxes by $ 1.2 trillion and increase tax rates for people who earn more than $ 400,000 a year, compared to $ 250.00, which was previously reported. It is expected that this plan can help reduce federal spending by $ 1.22 trillion.
In addition, many market participants are waiting for tomorrow's report on oil from the Department of Energy. Economists say that is likely to be reported to decrease oil reserves 1.380 million barrels last week, which ended December 14.
January futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 88.02 dollars a barrel on the New York Mercantile Exchange.
January futures price of North Sea petroleum mix of mark Brent rose 80 cents to $ 108.68 a barrel on the London Stock Exchange ICE Futures Europe.
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