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Posted on 24 February 2014 !!!
TEXT 1
Rising Oil Price a Boon for the US Economy

According to the investors, the high-ceilinged oil price has come up with positive news for the U.S. economy. The price rose because of the fact that the private sector added almost 111,000 jobs in October 2011. The Automatic Data Processing reported that the service industries got plenty of benefits.
As a result of soaring oil prices, Benchmark crude rose by 32 cents to end the day at $92.51 per barrel in New York, while Brent crude lost 20 cents to finish at $109.34 a barrel in London. After a two-day meeting of the Federal Reserve, which doesn’t announce any new policy, the prices on oil may slip a little bit.
The studies depicted that the decision taken by the Fed has a greater impact on oil prices. Last year the Fed decision supported the prices of oil as well drained $600 billion into a bond-buying program. Hence, such things influenced the currency and commodity markets. As a result of alteration in oil price, Benchmark crude mounted 20% higher in 2010.
The retail price on diesel has increased 80.1 cents higher per gallon. Its price will keep on rising because of the existing market scenario. According to, Wright Express and Oil Price Information Service, gasoline prices fell less than a penny to a national average of $3.432 per gallon. The price of gasoline is soaring at $4 per gallon. However, a gallon of regular oil is available at reasonable rate.
According to the energy trading, the heating oil lost 3.72 cents to end at $3.0007 per gallon. Gasoline futures finished at $2.6272 per gallon. Natural gas lost 3.2 cents to end at $3.749 per 1,000 cubic feet.






TEXT 2
UK unemployment rate drops to 7.1%

The UK unemployment rate has dropped to 7.1%, close to the point at which the Bank of England has said it will consider raising interest rates. The number of people out of work fell by 167,000 to 2.32 million in the three months to November, the Office for National Statistics (ONS) said.
The ONS also said the number of people claiming Jobseeker's Allowance fell by 24,000 to 1.25 million in December. Labour party leader Ed Miliband said that they welcome the fall in unemployment because whenever an individual gets back into work, it's good for them and good for their family.  But he argued that average wages were £1,600 a year lower than they were in the general election year of 2010, meaning that many families were worse off.
The fall of 167,000 was the biggest drop since the autumn of 1997. The number of 16-24 year olds out of work fell by 39,000 from the previous three-month period to 920,000.
The ONS figures also showed that the number of people in employment increased by 280,000 to reach 30.15 million. The bigger-than-expected drop in the number of people out of work has raised the possibility that interest rates may rise sooner than previously thought.
Mr Osborne refused to be drawn on the prospect of interest rates rising, saying it was a decision for the Bank of England. The Bank of England has said it might consider increasing interest rates from 0.5% when unemployment hits 7%. The jobs figures pushed up the value of the pound, which hit a year-high against the euro and climbed to a near three-week high against the dollar of $1.6553.


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