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- Oil prices retreated from four-month high
Oil prices retreated from four-month high
The cost of oil fell today, departing from the four-month high reached earlier on fears that negotiations on the debt limit could damage the U.S. economy. In addition, the pressure of the oil had an index of activity in the manufacturing sector of the New York Fed, which recorded in January, six monthly decline in a row. As it became known, the index dropped to -7.78, compared to -7.3 last month, which was revised to -8.1. Note that many economists expect the growth rate to 1.9.
Note that the futures price fell by 0.6 percent, after U.S. President Barack Obama said yesterday that he would not "negotiate" with Republicans against raising debt limit and called for a separate discussion to reduce costs.
Also yesterday, House Speaker John Boehner in his letter to Treasury Secretary Timothy Geithner wrote that the Treasury Department uses "extraordinary means", which have been isolated to prevent the violation polotka debt in the period from mid-February or early March.
Recall that the debt ceiling has been raised 79 times since its creation in 1917, and 49 times he rose during the Republican administration.
February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 93.93 dollars a barrel on the New York Mercantile Exchange.
February futures price for North Sea petroleum mix of mark Brent fell to $ 111.15 a barrel on the London Stock Exchange ICE Futures Europe.
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