Flood Waters Began To Sweep Through First Floors
World oil prices rose on Tuesday thin (30/3/2010) local time (Wednesday morning GMT), due to U.S. economic data triggered sunny optimism about the recovery of the world’s largest energy consumer, read about Rhode Island flooding. Flood waters began to sweep through first floors to overcome the pressure from the strengthening U.S. dollar. See RI flooding video.
Flood waters began to sweep through first floors. Ahead of the long holiday weekend, traders are also taking position before the report weekly U.S. oil inventories released on Wednesday. U.S. crude oil, light sweet for delivery in May rose 20 cents to settle at 82.37 dollars a barrel in trading back and forth, before rising to 82.74 U.S. dollars. In London, Brent crude North Sea rose 11 cents to settle at 81.28 dollars.
U.S. consumer confidence rebounded in March, while the observed housing index shows home prices close up in January for the eighth consecutive month, data showed on Tuesday. Flood waters began to sweep through first floors. The euro fell sharply against the U.S. dollar as investors took profits after two days up and because of anxiety about the fiscal health of the euro zone continued. Flood waters began to sweep through first floors.
A stronger dollar could indicate a flight to the save haven (safe haven) from the assets is considered more risky as equities and commodities. Flood waters began to sweep through first floors, thus helping to push oil prices.