Unemployment and fall of the U.S. 'Heats' Crude Oil

NEW YORK - Oil prices rose as financial markets got a boost from improved economic data the United States (U.S.) that showed jobless claims fell to a five-year low. In addition, data housing starts also rose sharply.


Meanwhile, the pace of Islamic militants Al-Qaeda hijacked gas facility in OPEC countries, Algeria, increasing concerns about energy exports. U.S. gasoline futures also rose, after Venezuela threatened supplies at refineries and fuel supplies in the region tightened.

"Oil prices have increased due optimitis growing economies in the entire market. We see this reflected in U.S. jobless claims and an increase in the number of home construction today," said analysts at Summit Energy in Louisville, Matt Smith, as reported by Reuters on Friday (18.01.2013).

U.S. crude, West Texas Intermediate (WTI) for February delivery rose $ 1, $ 25 per barrel to USD95, 49 per barrel. Brent crude rose $ 1, 42 to USD111, 10 per barrel.

U.S. gasoline futures (RBOB) rose by 1.7 percent to $ 2, 7689 per gallon. CL-LCO1 Brent premium to U.S. crude fell below $ 15 per barrel for March. As for February, Spread closed at USD16, 37 per barrel.

Sources: http://economy.okezone.com/read/2013/01/18/213/748035/