The Brent rises by 0.4 percent to close at $122.88
A barrel of Brent crude rose 0.4 percent today, to $ 122.88 in the London market, the weakening of the dollar and optimism about recovery in the eurozone.
The North Sea oil, the European benchmark for May delivery ended in the Intercontinental Exchange Futures (ICE) with a $ 0.49 increase over the previous session.
The maximum of the day today was $ 124.67 and $ 122.58 minimum.
After two sessions of sharp falls, Brent returned to recover thanks to the weakness filed today by the dollar, the currency traded.
The investor optimism regarding progress in the eurozone crisis was fueled by the agreement of European finance ministers in Copenhagen to strengthen the rescue fund of 500,000 million euros, which, together with the 200,000 million and committed for aid to Greece, Ireland and Portugal, for a total of 700,000 million.
Furthermore, the Government of Spain has approved a major plan to fit through the draft State Budget for 2012 that includes cutting 27,000 million euros through reduced spending in ministries of 16.9 percent and the rise in corporation tax for large companies, with which it hopes to raise 12,300 million.
From across the Atlantic, came positive news about the world’s largest economy, since consumer confidence in the U.S. rose in March and reached its highest level since February last year.
Said today the University of Michigan confidence index in the evolution of the economy and their personal financial situation in March rose to 76.2 points, nine points more than the previous month and the highest peak from 77.5 points February 2011.
Category: Stock Market Trading
