Worried Typhoon Ida, Oil Price Rise

Crude oil prices earlier this week beyond the level of U.S. $ 78 per barrel. Because the trading floor flooding concerns when a hurricane threatens Ida refinery installations United States (U.S.) in the Gulf of Mexico.

Through electronic transactions for Asian trade on the New York stock exchange, Monday afternoon in Singapore, the price of light sweet crude for December delivery rose 94 cents to as low as U.S. $ 78.37 per barrel.

Ida hurricane, the first storm of the Atlantic Ocean near the U.S. this year, moving toward the Gulf of Mexico today with winds 169 miles per hour, and can be landed as soon as possible on Tuesday morning local time.

Oil prices are also driven by the fall in the dollar. For months, affecting the movement of the dollar value of oil prices as investors buy commodities as a drag inflation and the weak U.S. dollar exchange rate. Last month, oil prices rose to a level of U.S. $ 82, the highest level in 2009, from the lowest level of U.S. $ 32 in December.

Meanwhile, the euro exchange rate rose to U.S. $ 1.4929 in Asian trade today. Last Friday, the euro exchange rate at the level of U.S. $ 1.4885. While against the yen, the dollar exchange rate stable at a level close to 90 yen.

Last Friday, oil prices fell U.S. $ 2.19 to as low as $ 77.43 after the U.S. Labor Department said the unemployment rate rose higher than projected. In October, the unemployment rate reached its highest level since 1983, namely 10.2 percent.

Meanwhile, Brent oil price for the stock in December rose 89 cents to as low as U.S. $ 76.76 on the ICE Futures exchange in London. (AP)