” Brent ” rises above $ 110 by the U.S. data supports growth
Futures rose ” Brent ” on Wednesday to remain above $ 110, thanks to renewed optimism about the steady growth of demand in the United States , the largest consumer of oil in the world , after the strong economic data , while crude cast additional support from concerns about supplies .
And increased orders for U.S. durable goods unexpectedly , and increased consumer confidence , boosting high-risk assets and U.S. stock markets to close at a new record high .
Some analysts believe that the strong gains for stocks could lead to more selling for a profit , which in turn will push oil down .
The crude rose ” Brent ” 17 cents to 110.19 dollars a barrel , after closing down 30 cents as a result of profit-taking after a long weekend .
U.S. crude rose one cent to 104.12 dollars , after being down 24 cents in the previous session .
The fund manager said goods in Ostmax Investment Tetsuo Emory that ” there are many factors supporting the market , we have good economic indicators and doubts about Libya and Ukraine . ”
He said Emory , ” but U.S. stocks are very high , and I’m afraid to see the sale of profit-taking in stocks, oil has come down , too. “