Connect with us


Oil Rises While World Shares Fall

Hitting land on Monday, the storm ‘Sandy’ had forced everything and everyone to shut down and this applied to the New York Stock Exchange as well. However, as the storm subsided by Wednesday, Wall Street was again trading with all shares trading in the red except the crude oil ones, which were on a rise.
‘Sandy’ has changed the course of exchange trading to an extent as the futures on the US lumbar soared as demands are likely to increase after the devastating storm. Gains seen in the crude oil futures were capped to an extent as the demand is likely to be impacted by the storm.
It is known that the East Coast bore the brunt of ‘Sandy’ and reported power outages and flooding, which means that the demand for fuel would be low due to low consumption. However, most refineries of the region escaped unscathed and the Philadelphia refinery, which is also the biggest refinery of the region, ramped up its operations to meet any demands.

The trading pattern showed an increased interest in the lumbar futures by speculators as they anticipated a higher demand. The Chicago Mercantile Exchange witnessed the contracts for the lumbar futures of the months November, December and January rising daily and remained locked at the trading limit of $10 per thousand board feet, eventually shutting down trading.
The trading patterns on the Wall Street were expected to be volatile in the wake of low volume of trading as several of the traders could not make it to the exchange either due to unavailability of public transit or due to the inability to work from home as power outage had left them without any ‘charged’ means of communication.
The Standard & Poor’s 500 Index showed a down ward movement by 0.16 percent or 2.20 points, settling at 1,409.74. The industrial average at the Dow Jones was down by 11.63 percent at 13,095.58, a 0.09 percent fall. The NASDAQ Composite Index did not show any change.
However, it was crude oil that gained as Brent crude rose to trade above $109 a barrel. December delivery of Brent was cited up at $109.12, an increase of 4 cents. $86.21 a barrel was the price seen for the US light sweet crude oil, an increase of 53 cents. Another area to see a rise was the Bond, the 10-year Treasury note of the US which yielded 1.7067 a rise of 1/32 in price. The Euro rose by 0.07 percent against the Dollar and traded at $1.2964.
I am Susan Hannan from Exams Key; it gives 100% NS0-504 test exams. Let’s take benefit of CAP test Exams material efficiently and get guaranteed success. Check out free demo of all certifications Exam.

Continue Reading

Recent Posts

Travel1 month ago

Best Places To Visit In The North Of England

If you live in England, you will know there are many different places to visit for the weekend. There are...

General1 month ago

Green Home Improvement Ideas

In a world where environmental concerns are growing, the concept of “green” has gone beyond a trendy catchphrase and is...

Lifestyle2 months ago

How to Host an Unforgettable House-Warming!

The time has finally come. You have moved into your dream pad, and are officially adulting in your very own...

Autos2 months ago

A Guide to Parking Lot Striping

The journey to a well-striped parking lot begins with the right paint. In this brief guide, we’ll unravel the mystery...

Business4 months ago

Business Tips For Protecting Your Finances During A Recession

In 2023, taking the necessary steps to protect your finances for your business is now more important than ever. The...

Lifestyle5 months ago

Tips For Cleaning Your Trainers

If you’re into your trainers and streetwear, you’re likely to be very conscious of keeping them looking their best! So,...

Marketing5 months ago

Branding Trends For Start-Ups in 2023

Branding is incredibly important as it impacts how your business reaches and connects with its target market. If you’re branding...

Business6 months ago

Avoiding the Wrong Kind of Growth

Growth is vital for any business – some models, like tech start-ups, are built around periods of dramatic, explosive growth...

Business6 months ago

How To Become A Property Developer

There are several reasons why an individual will want to become a property developer. One of the main reasons for...

Tech8 months ago

What Is The Difference Between Cyber Attacks and Cyber Threats?

If you own a business that uses the cloud to manage workloads, you have probably heard of the terms cyberattack...

Marketing8 months ago

3 Types of Marketing Every Small Construction Business Should Do

Construction is a very saturated sector, whether you’re a large or small construction company, so marketing should be at the...

Business9 months ago

How Relevant Life Insurance Plans Can Future-Proof Your Business

Last year, UK inflation reached the highest level that it had been for decades. The markets became unsteady and nervous...

Autos9 months ago

In a Car Accident? Here’s How to Find a Great Lawyer

If you’ve recently been in a car accident, you know that it can be an overwhelming experience. Not only do...

Education9 months ago

Considering Therapy? Here’s a Few Common Therapy Techniques Explained

If you’re considering therapy as a means to improve your mental health, you may be curious about the type of...

home repairs home repairs
Home Improvement9 months ago

Top 5 Home Repairs You Should Never DIY

DIY home repairs are all the rage these days. But before you jump on the bandwagon, there are some things...