© ANP.
The price of crude oil made Friday at the end of the US stock market trading a remarkable leap. Both the price of American oil as that of Brent, the benchmark for oil from Europe, Africa and the Middle East, went with around 7 percent.
Analysts pointed according to business newspaper The Wall Street Journal to include a message from Baker Hughes, a major provider to the oil and
The decrease according to market experts is another sign that the sharp fall in energy prices will depress future oil production. The recent price declines are the result of an oversupply of oil on the market.
In addition, the oil rally could be caused by many traders who have speculated on further price declines, at the end of the month should cover their so-called short positions by buying oil contracts. That can have an inflationary effect.
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