A month ago, we wrote about Fr. record drops in fuel prices in Norway. Shortly after Christmas, oil prices recorded significant increases in world stock markets. They coincided with increases on the Wall Street stock exchange. An interesting fact is that on Christmas Eve crude oil decreased by 4,5%, and on Wednesday it went up by 8,7%.
Wall Street Rises
Great importance for oil prices in the world markets had an improvement in the situation on the Wall Street stock exchange. At Wednesday's close, the Dow Jones stock rose 4,98% and that is it the greatest increase in the history of this index. As experts from Bloomberg write - such a turn of events was awaited by investors. Especially since stock prices on Wall Street fell drastically on December 24th.
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Not only Dow Jones
Not only the Dow Jones stocks were more expensive at Wednesday's stock market close. For example, Nike and Apple shares grew by 7%. After the hard Christmas Eve, the shares also went up Standard & Poor and at the end of the day on Wednesday they rose by 4,98%. The index grew even more Nasdaqwhich was 5,84%.
Also read: Slippery roads and numerous accidents in Norway >>>
Crude oil up 8,7%
The gains on Wall Street coincided with the long-awaited gains fuel prices on world markets. While in Christmas Eve an average price drop of 4,5% was recorded, an increase of 8,7% was recorded on Wednesday evening. The price of a barrel produced in the North Sea has increased, and it currently costs US $ 55,19.
More expensive American oil
Even greater price increases were recorded in the case of crude oil produced by the USA. The price increased by 10%, which in absolute terms is exactly USD 4,2 per barrel. The average cost was a barrel $46,81 Wednesday night.
Trade talks
Experts from Bloomberg attribute the reasons for the increase to the intentions of the US government. Donald Trump's message is also important, when he wrote on Twitter that "it's a good time for investors who want to... increase stock purchases".
The key ones, however, seem to be planned trade talksreported by the US government. American officials travel to China for two weeks to initiate negotiations commercial. Also relevant is the fact that Jerome Powell has remained in his position, although Donald Trump had previously suggested his dismissal.
Turbulence in world markets
The last few weeks have been marked significant fluctuations in world markets. It should be emphasized that many factors had a decisive influence. For example, the Brexit agreement, the trade war with China, and the general consternation in the context of the state of the world economy. There are many indications that the situation is returning to normal. For consumers, this means, among other things fuel price increasesand for investors greater optimism of purchases share.
