For the last two business days the Crude Oil jump with more than $13 according to World-Signals.com. The main reason for the rise of the black gold is the crisis with the gas supplies for Europe through Ukraine. The gas crisis come at the time when in Europe the winter temperatures fall to –25 C. The Crude Oil in New York break above $50 today may continue to rise as the crisis deeper. The Crude Oil was trading at $35.52 on 26th of December 2008. The big jump came on 2nd of January 2009 and continues to rise for third day. The Crude Oil may fall when there is clear view for the decision of the gas transit through Ukraine as many European countries suffer in the cold winter.
Join the Discussion