Petroleum touches its floor of eight months

world-oil The price of petroleum arrived at its minimum in eight months, lowering of the barrier of the 90 dollars by barrel, affected by the speculation of which the increasing financial crisis will enlentecera the global economic growth and will cut the demand of crude anywhere in the world. In afternoon of today also I identify myself to the increase of the dollar against the Euro like another reason by the fall in the value of petroleum, emphasizing that in the noon European crude light one it had lowered 4,03 dollars until the 89,85 dollars by barrel in New York Mercantile Exchange. That fall was worse since, in the first hours of session, the price I reach the

89,07 dollars by barrel, recovering near 80 cents shortly after. Bond to remember that to the closing of Friday, crude the light one was to 93,88 dollars in New York, whereas the Brent finished to 86,61 dollars. Watching the prices of I complete year we can say that the price of petroleum has fallen near 40% from reaching its historical maximum in July. In addition, the contracts to future of the Nymex did not negotiate in so low values from February, which means that, to stay the fall, we could return to values of the 2007 in some days. Also it is necessary to say that the fall took place at the same time as the bags worldwide continue falling in the middle of the anxiety of the investors, who think that the American crisis of credits has begun to affect the most important markets of Europe. This is well-known when we considered that Germany announced yesterday a plan of salvataje with a value of 50 billions of Euros for Real Hypo Estate, the second more important hypothecating moneylender of Germany, like part of the plan of several governments to save National Banks in danger. Without doubts all these changes indicate that the world has not breathed with tranquillity after which the Congress of the United States approved the package of 700 billions of dollars to buy bad hypothecating debt, with the idea to stabilize the local financial system. In order to finalize the expectations for the future near they are not positive, with the analysts assuring that the demand by petroleum will continue falling by some months, until the most important economies find certain that allows them to return to its growth. In the first hours of Monday the price of the Euro happened of 1,3590 to 1,3774 dollars, whereas the dollar fell to the 103,35 yens from the 105,30 reached Friday.

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