US oil price: up helped by US dollar weakness

Oil prices Texas Intermediate (WTI) gained 67 cents in New York to $ 45.50 a barrel, boosted by a weakening of the dollar against other international currencies.

Analysts said the dollar’s depreciation makes it easier to use need to stock up on gold on the black market, whose transactions are always performed in the US currency.

During the day the call greenback lost ground after the publication of a report that showed a slowdown in growth in the service sector, pivot of the economy of this country.

Experts agreed that that fact undermined the expectation of the Federal Reserve raise interest rates at the end of this month, possibility about which the monetary entity speculating came often to strengthen the dollar.

Also the rise in price was attributed to forecasts of a decline in crude stocks in this country in the past week and advertisements members of the Organization of Petroleum Exporting Countries (OPEC) and other non belonging to this group , they seek an agreement to encourage the rise in fuel prices.

OPEC and producers not part of it, like Russia, will meet on 26 and 27 September in Algeria in the context of implementation of the International Energy Forum.
Moreover, in the London market barrel of crude Brent North Sea on Wednesday he dismissed fixed at $ 47.98, representing a rise of 72 cents.

The prices of both oil reference remain between 40 and 50 dollars per barrel for several months, amid wide speculation in the market.


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