Crude oil futures hit two year highs last Friday, still riding the wave of optimism created by the United States Federal Reserve\u2019s announcement of a fresh round of stimulus.<\/p>\n

US light, sweet crude for December delivery improved to $86.61 per barrel, while January crude reached $87.28 per barrel on the New York Mercantile Exchange (NYMEX).<\/p>\n

On the ICE Exchange, December Brent Crude stood at $88.04 per barrel, while Brent Crude for January delivery last traded at $88.21 per barrel on Friday.<\/p>\n

The Fed was widely expected to unveil a new round of quantitative easing, though it was not clear what the size of the new asset purchase programme was going to be.<\/p>\n

However, The Tide gathered that the consensus forecast may stand at aroundS$500 billion over six months.<\/p>\n

Investors shied away from putting money into riskier assets, held back by a report in the Wall Street Journal, which suggested that the Fed may opt for a smaller package, limiting it to a few hundred billion over a few months to minimize policy risks.<\/p>\n

But experts, including Ascent Resources recommend that Swiss assets managers, Petrel Resources settles Iraq issues to create the leverage for speedy recovery in the economy.<\/p>\n

IGAS is well placed to aid ailing UK gas industry, but on the contrary, the Fed decided to buy $600 billion worth of Treasuries to spur the apparently slowing recovery.<\/p>\n

This move triggered a buying spree in commodity markets, while pushing the US dollar to 11 month lows against a basket of other major currencies.<\/p>\n

Weakness in the US dollar provided further support for oil prices, making crude oil cheaper for holders of other currencies to lift demand.<\/p>\n

The American currency rebounded later in the day on demand from bargain hunters, trimming gains in oil futures.<\/p>\n

Meanwhile, the big majors have continued to post a mixed grill of profit and loss accounts after investors geared at the jittery market Indices.<\/p>\n

Consequently, British Petroleum posted a small gain, while fellow super-major, Shell declined marginally, just as did BG Group and Cairn Energy, all on the floor of the London Stock Exchange.<\/p>\n

On the other hand, Tullow Oil held steady, while Amec climbed 1 per cent on the London trading.<\/p>\n

\u00a0Another oil and gas engineering firm, Petrofac stood just above the opening level.<\/p>\n

Midcaps were mixed. Heritage Oil led the group with a 1.6 per cent gain while Premier Oil and Salamander Energy added less than 1 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crude oil futures hit two year highs last Friday, still riding the wave of optimism created by the United States Federal Reserve\u2019s announcement of a fresh round of stimulus. US light, sweet crude for December delivery improved to $86.61 per barrel, while January crude reached $87.28 per barrel on the New York Mercantile Exchange (NYMEX). […]<\/p>\n","protected":false},"author":43,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[],"yoast_head":"\n