The market has expectations for the solution to the European debt crisis, and the international oil prices continue to rise following US stocks. New York’s light crude oil prices have risen by US$10.14 or 13.4% in recent months, and London’s Brent crude oil prices have increased by US$10.94 or 11% in recent months, the largest since August 2009. Continued gains.
Tuesday (October 11) New York Mercantile Exchange West Texas Light Oil November 2011 ** Settlement price US$85.81 a barrel, up US$0.40 from the previous trading day, trading range 83.97-86.64 USD; London Intercontinental Exchange Brent crude oil November 2011 ** settled at US$110.73 per barrel, up US$1.78 from the previous trading day and trading range of US$107.45-111.24.
However, the European Financial Stability Index (EFSF) expansion plan requires the unanimous approval of the 17 member states of the euro zone. After the US and European crude oil prices closed, the Slovak parliament vetoed the plan. US stocks narrowed their gains and remained unchanged. International oil prices fell in the after-hours electronic trading system. But the market hopes that the Slovak parliament will vote again in the next few days to decide on the plan.
In the coming days, the European and American crude oil ** will fluctuate. Earlier Tuesday, the euro rose against the dollar and the US stock market rebounded from its early lows. However, the uncertain outlook for the expansion of the EFSF caused the euro exchange rate to lose its momentum. In late New York, the euro was almost flat against the US dollar in the previous trading day, at a price of 1.3637 US dollars.
Not only does the EFSF expansion plan pass unpredictable prospects, but there is also the possibility of Greek debt default. The rise in the exchange rate of the euro may stop here, and the rise in international oil prices is difficult to maintain.
Tuesday (October 11) New York Mercantile Exchange West Texas Light Oil November 2011 ** Settlement price US$85.81 a barrel, up US$0.40 from the previous trading day, trading range 83.97-86.64 USD; London Intercontinental Exchange Brent crude oil November 2011 ** settled at US$110.73 per barrel, up US$1.78 from the previous trading day and trading range of US$107.45-111.24.
However, the European Financial Stability Index (EFSF) expansion plan requires the unanimous approval of the 17 member states of the euro zone. After the US and European crude oil prices closed, the Slovak parliament vetoed the plan. US stocks narrowed their gains and remained unchanged. International oil prices fell in the after-hours electronic trading system. But the market hopes that the Slovak parliament will vote again in the next few days to decide on the plan.
In the coming days, the European and American crude oil ** will fluctuate. Earlier Tuesday, the euro rose against the dollar and the US stock market rebounded from its early lows. However, the uncertain outlook for the expansion of the EFSF caused the euro exchange rate to lose its momentum. In late New York, the euro was almost flat against the US dollar in the previous trading day, at a price of 1.3637 US dollars.
Not only does the EFSF expansion plan pass unpredictable prospects, but there is also the possibility of Greek debt default. The rise in the exchange rate of the euro may stop here, and the rise in international oil prices is difficult to maintain.
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