Business news online

The conflict in the Middle East oil market razogrel

Price of oil is 5 January rose to a monthly maximum on a background of escalating conflict between Israel and Hamas, reported MarketWatch.

a positive role in the market had also plans to get the economy out of crisis, proposed by U.S. President Barack Obama.

As a result of trades on the NYMEX February crude oil futures on the supply of stamps WTI increased by $2.47, or 5.3%, to $48.81 a barrel. During the bidding price of oil rose to $49.28 a barrel.

tense situation in Gaza continues to fuel oil market. On Monday, Israeli troops have begun the next phase of ground operations against Palestinian militants.

At the moment, the main fighting being in the north, which, like Gaza City was cut off from the rest of the Palestinian enclave as a result of the Israeli army.

began on Saturday an operation aimed at seizing parts of the areas where Palestinian forces made rockets into Israeli territory, and the elimination of “terrorist infrastructure” in the area of the invasion.

addition to geopolitical reasons, the price of oil There is also growing, and thanks to hopes for economic recovery.

Investors pin great hopes on the actions of the authorities. Before the councilors elected U.S. President Barack Obama (Barack Obama) said that his program of economic recovery will include tax cuts for workers and businesses for a total of about $300 billion thus Obama expects to receive the support of skeptics in Congress who are concerned that in his program too large role can be given a state.

Natural gas went up on Monday in no small measure due to the gas conflict between Russia and Ukraine. From 5 January, Gazprom cut gas supplies through Ukraine at 65.3 million cubic meters, which had been stolen from Russia. With such a proposal was made by the head of Gazprom Alexei Miller, and his support of Prime Minister Vladimir Putin.

February futures on the supply of natural gas increased by 1, 7% to $6072 per million British thermal units.