Economy Local USA

Oil prices end up in New York

NEW YORK (Reuters) – Oil prices rebounded Thursday, benefiting from the rebound on Wall Street and the encouraging figures of employment in the United States.

On the Nymex, the contract to September U.S. crude (WTI) finished with a gain of 2.83 dollars, or 3.41% to 85.72 dollars a barrel.

Brent crude was up 1.2%, or $ 1.34, to 108.02 dollars after going below the threshold of 106 dollars earlier in the day, on fears of an extension of the crisis debt in Europe.

Oil, which had closed up sharply Wednesday, continued to rise Thursday, after temporarily declining trend early in the day.

Since the rating agency Standard & Poor’s downgraded the sovereign rating of the United States on Friday, Brent fell by about 4%.

Despite the deteriorating economic outlook, which reduces the prospects for growth in oil demand, declining U.S. inventories unexpectedly announced came to support prices on Wednesday.

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