Oil price on the rice
Crude prices rose sharply on Friday.
In London, September Brent settled up USD 3,04 to USD 108,94, the highest level since May 16.
-Oil prices rose after U.S.Labor Department reported that payrolls rose more than expected in July. The ISM’s non-manufacturing index also gained more than forecasted as well as the Standard & Poor’s 500 index gained almost two percent. Oil prices have also been supported by the ongoing unrest in Syria, which is situated in the energy-rich Middle East. The region is responsible for almost 30 percent of global oil production, according to Norwegian Oil Trading.
Expected priceband Monday ( Brent 1. pos. ) will be between 104,50—107,00 USD per barrel, according to Norwegian Oil Trading.