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Oil price climbs above $ 81

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HB NEW YORK / LONDON / VIENNA. One barrel (159 liters) of the U.S. varieties of West Texas Intermediate (WTI) for delivery in February, the evening cost $ 81.17. They are $ 1.81 more than at the close of trading on Thursday. A barrel of North Sea Brent crude increased the cost is $ 1.86 to $ 79.65.

Dealer justified the higher prices even with robust economic data from the U.S.. Furthermore, basing the dispute between Russia and Belarus about an extension of an oil contract, which had expired on New Year’s Day, oil prices, said traders. Belarus intends to significantly more money for forwarding to the west, while Russia aims to increase its export tariffs. While this dispute was not a big concern, but support the current positive sentiment on the oil market, traders said. Commerzbank considers the risk of delivery failures to be low. Having become the price of oil is currently above all by economic optimism.

Thus, the Purchasing Managers’ Index (ISM) for the manufacturing industry in the United States confirmed on the afternoon with a powerful leap to a three and a half-year high according to estimates of Helaba the image of a continued economic recovery. "A positive factor is the increased Beschäftigungssubindex, fueling the hopes that the job cuts coming to a halt," according to a study released on Monday. On Friday, the U.S. employment report for December is available for publication.

The price of crude oil, the Organization of Petroleum Exporting Countries (OPEC) has increased. According to calculations by the OPEC Secretariat on Monday the cost of a barrel (159 liters) on Thursday (New Year) on average $ 77.13. That was more than 36 cents on Wednesday. OPEC calculates its daily basket price based on twelve major varieties of the cartel.