Oil Prices Approach U.S. $ 80/barel

Crude oil prices climbed close to U.S. $ 80 per barrel. The crude oil investors seemed to watch the global stock market movements, which is currently experiencing an increase followed gains in Asian stock index.

Based on elektronok transactions for Asian trade on the New York stock exchange, Friday afternoon in Singapore, the price of light sweet crude for December delivery rose 34 cents to U.S. $ 79.96 per barrel. On the London ICE exchange, Brent crude for December delivery rose 68 cents to U.S. $ 78.68/barel.

Oil investors have been affected by the sentiment of the stock exchange floor. Dow Jones stock index rose 2.1 percent and unemployment is declining to give a positive signal. The increase was also hit in the index major bourses Friday afternoon Asia.

In addition investors also observe the signs of decreasing oil supplies increased significantly bersaaman shrinking demand this year. "We hope the improvement of economic fundamentals to drive demand for oil," said Morgan Stanley's assessment in his report.

"Until the oil market is shrinking, the oil will bring increased risk to asset prices," he said. Morgan Stanley predicted prices would reach minyal average of U.S. $ 85 per barrel next year.

Oil prices could reach U.S. $ 80 per barrel last week due to kekahawatiran investors U.S. consumer purchasing power and currency volatility Dola