Crude oil fell by 1.96 at the end of the week at 82.86. And the unexpected decline in interest rates announced by the People's Bank of China to the markets, and also gave them a shutter, as investors began to worry that the economic slowdown in China, which was worse than expected. This is the first cut since 2008.
Oil prices fell in the NYMEX about 3 percent today, and at the expense of expectations of a slowdown in the United States and China, which will limit fuel demand. In addition, the company promoting de X was a negative factor for the commodity.
Prices hovering 83.00 $ / bbl with the decline more than 1 percent. And witnessed the decline in the global financial market after the hope of more monetary stimulus to become in the context also denied that the Federal Reserve. Thus, we might expect that the effect will remain for the day by more than China shading reduced interest rates for the first time in the past four years.
As for the other sides, Japan, third most oil consumer has declined the current account, which may also affect the price of oil. And may cut Spain's credit rating by Fitch by three points, which may continue to impact on the euro. Consequently, the euro may weaken the pressure on oil prices. Similarly, the lower the trade deficit of the United States, while wholesale inventories may increase, This may give a picture of a combination of the U.S. economy.