Dominion Lending Centres Clearlease Reports Friday the 13th Oil rises to near US$100 in Europe on strong German, French GDP figures
VANCOUVER, BC – (May 13, 2011) Clearlease Reports Oil prices rose to near US$100 a barrel Friday as Germany and France posted strong economic growth figures and the U.S. dollar weakened, making crude cheaper for investors with other currencies.
By early afternoon in Europe, benchmark crude for June delivery was up 93 cents to $99.90 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 76 cents to settle at $98.97 on Thursday.
In London, Brent crude for June delivery was up $1.20 to $114.18 a barrel on the ICE Futures exchange.
Crude prices have zigzagged near $100 for most of this week, broadly tracking the value of the dollar. When the dollar weakens — as it has most of this year — oil tends to rise while it usually falls when the dollar is stronger.
“Stronger than expected GDP data from Germany, France and the eurozone provided some support to the euro and pushed the U.S. dollar lower,” said a report from Sucden Financial in London. “The oil market seems very vulnerable, but is likely to be erratic amid these uncertain economic conditions in the eurozone.”
Germany, Europe’s biggest economy, grew by 1.5 per cent in the first quarter of 2011, above economists’ forecasts for 1 per cent growth. France, the eurozone’s second-biggest economy, grew 1 per cent on higher consumer spending and business investment.
Those figures helped boost the euro, which rose to $1.4284 from $1.4241 late Thursday, while the dollar fell to 80.63 yen from 81.00.
“Oil is maintaining a tight correlation with the dollar for now,” Ritterbusch and Associates said in a report. “Given some expected wide swings in the currencies … exceptional oil price volatility will likely remain intact through this month.”
Traders are also closely watching for signs higher fuel costs are crimping U.S. crude demand. The International Energy Agency on Thursday cut its estimate for global demand this year by 190,000 barrels per day, noting that higher gasoline prices in the U.S. appeared to be forcing Americans to cut back on driving.
Some analysts expect demand in developing economies to bolster global consumption.
“Overall, the global demand picture has not changed significantly,” Barclays Capital said.
In other Nymex trading in June contracts, heating oil added 2.83 cents to $2.942 a gallon and gasoline gained 2.14 cents to $3.0853 a gallon. Natural gas futures retreated 2.4 cents to $4.17 per 1,000 cubic feet.
___
(TSX:ECA, TSX:IMO, TSX:SU, TSX:HSE, NYSE:BP, NYSE:COP, NYSE:XOM, NYSE:CVX, TSX:CNQ, TSX:TLM, TSX:COS.UN, TSX:CVE)
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC – (May 13, 2011) Clearlease Reports Oil prices rose to near US$100 a barrel Friday as Germany and France posted strong economic growth figures and the U.S. dollar weakened, making crude cheaper for investors with other currencies.
By early afternoon in Europe, benchmark crude for June delivery was up 93 cents to $99.90 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 76 cents to settle at $98.97 on Thursday.
In London, Brent crude for June delivery was up $1.20 to $114.18 a barrel on the ICE Futures exchange.
Crude prices have zigzagged near $100 for most of this week, broadly tracking the value of the dollar. When the dollar weakens — as it has most of this year — oil tends to rise while it usually falls when the dollar is stronger.
“Stronger than expected GDP data from Germany, France and the eurozone provided some support to the euro and pushed the U.S. dollar lower,” said a report from Sucden Financial in London. “The oil market seems very vulnerable, but is likely to be erratic amid these uncertain economic conditions in the eurozone.”
Germany, Europe’s biggest economy, grew by 1.5 per cent in the first quarter of 2011, above economists’ forecasts for 1 per cent growth. France, the eurozone’s second-biggest economy, grew 1 per cent on higher consumer spending and business investment.
Those figures helped boost the euro, which rose to $1.4284 from $1.4241 late Thursday, while the dollar fell to 80.63 yen from 81.00.
“Oil is maintaining a tight correlation with the dollar for now,” Ritterbusch and Associates said in a report. “Given some expected wide swings in the currencies … exceptional oil price volatility will likely remain intact through this month.”
Traders are also closely watching for signs higher fuel costs are crimping U.S. crude demand. The International Energy Agency on Thursday cut its estimate for global demand this year by 190,000 barrels per day, noting that higher gasoline prices in the U.S. appeared to be forcing Americans to cut back on driving.
Some analysts expect demand in developing economies to bolster global consumption.
“Overall, the global demand picture has not changed significantly,” Barclays Capital said.
In other Nymex trading in June contracts, heating oil added 2.83 cents to $2.942 a gallon and gasoline gained 2.14 cents to $3.0853 a gallon. Natural gas futures retreated 2.4 cents to $4.17 per 1,000 cubic feet.
___
(TSX:ECA, TSX:IMO, TSX:SU, TSX:HSE, NYSE:BP, NYSE:COP, NYSE:XOM, NYSE:CVX, TSX:CNQ, TSX:TLM, TSX:COS.UN, TSX:CVE)
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Friday the 13th Oil rises to near US$100 in Europe on strong German, French GDP figures
VANCOUVER, BC – (May 13, 2011) Clearlease Reports Oil prices rose to near US$100 a barrel Friday as Germany and France posted strong economic growth figures and the U.S. dollar weakened, making crude cheaper for investors with other currencies.
By early afternoon in Europe, benchmark crude for June delivery was up 93 cents to $99.90 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 76 cents to settle at $98.97 on Thursday.
In London, Brent crude for June delivery was up $1.20 to $114.18 a barrel on the ICE Futures exchange.
Crude prices have zigzagged near $100 for most of this week, broadly tracking the value of the dollar. When the dollar weakens — as it has most of this year — oil tends to rise while it usually falls when the dollar is stronger.
“Stronger than expected GDP data from Germany, France and the eurozone provided some support to the euro and pushed the U.S. dollar lower,” said a report from Sucden Financial in London. “The oil market seems very vulnerable, but is likely to be erratic amid these uncertain economic conditions in the eurozone.”
Germany, Europe’s biggest economy, grew by 1.5 per cent in the first quarter of 2011, above economists’ forecasts for 1 per cent growth. France, the eurozone’s second-biggest economy, grew 1 per cent on higher consumer spending and business investment.
Those figures helped boost the euro, which rose to $1.4284 from $1.4241 late Thursday, while the dollar fell to 80.63 yen from 81.00.
“Oil is maintaining a tight correlation with the dollar for now,” Ritterbusch and Associates said in a report. “Given some expected wide swings in the currencies … exceptional oil price volatility will likely remain intact through this month.”
Traders are also closely watching for signs higher fuel costs are crimping U.S. crude demand. The International Energy Agency on Thursday cut its estimate for global demand this year by 190,000 barrels per day, noting that higher gasoline prices in the U.S. appeared to be forcing Americans to cut back on driving.
Some analysts expect demand in developing economies to bolster global consumption.
“Overall, the global demand picture has not changed significantly,” Barclays Capital said.
In other Nymex trading in June contracts, heating oil added 2.83 cents to $2.942 a gallon and gasoline gained 2.14 cents to $3.0853 a gallon. Natural gas futures retreated 2.4 cents to $4.17 per 1,000 cubic feet.
___
(TSX:ECA, TSX:IMO, TSX:SU, TSX:HSE, NYSE:BP, NYSE:COP, NYSE:XOM, NYSE:CVX, TSX:CNQ, TSX:TLM, TSX:COS.UN, TSX:CVE)
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk