New York Economy
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Table of Contents
Prices of oil in New York
Latest New York economy news has confirmed that prices of oil have reached a price in excess of $60. This is highest price of oil and petroleum products in past six months. Elsewhere in New York stock markets have been performing well too. All these facts point to possibilities of revival of economy of New York.
Fact that there are plenty of problems in Nigeria has also pushed prices of oil in New York. In addition to this there are other encouraging signs for New York’s economy as well. Present prices of light sweet crude that is supposed to be delivered in June and is a major futures contract of New York economic system, has increased and touched $60.48 on a per barrel basis. This price was 62 cents more than 11th April 2009 when prices of light sweet crude oil had ended at 59.65 dollars.
New York futures trades
According to New York economy information futures contracts for commodities that are supposed to be delivered in June are expiring on 12th April 2009. As of now New York futures trading activities are centering on contracts for oil that would have to be delivered by July. Latest prices of these products are $60.03.
Price of crude oil from Brent North Sea and supposed to be delivered in July had gone up to $59.65 for every dollar but were soon down to $58.92. This price was 45 cents more than price at end of 11th April. Previous price was highest in last six month for crude oil from Brent North Sea, supposed to be delivered in July
Condition of equity markets in New York
New York economy information has revealed that equity markets over there are performing pretty well. In fact their performance has helped to increase prices of oil in New York.
New York economic recovery
Prominent economists have said that it is important that New York economic recovery happens at right time. They have reasoned that inventories of several goods important to New York economy are on a higher side and demands are at ebb. This implies that there could be complications in markets that could have adverse economic implications.
