Crude Oil Futures Hit 3-Day High on Hopes for EU Debt Plan

With crude oil futures in the EU hit a great hope for the level of debt 3 days

Gross-term policy in the euro area economy in the region to support the patient and provide a solution to the debt crisis currently will move to three days in the hope of rising, the single currency increased for the second day Tuesday in the block.

New York Mercantile Exchange, November for the delivery of light, sweet crude future of 2.85%, bringing European USD82.53 a barrel of oil traded in the morning.

Prior to USD82.60 a barrel, trading at the highest level since Sept. 22 fell to 2.93%.

A bank official of high rank said Monday after the market sentiment of the European Central Bank, the economy of the euro area, monetary policy to help facilitate the reduction of interest rates because speculation that the increases can not be ignored.

Also supports a sense, high level politicians EUR440 million from the European financial stability, the European Central Bank on exchange rate of liquidity, the ECB can be used as collateral for loans, he said.

According to British Petroleum in the euro area in 2010 was about 16% of world oil consumption.

Markets in the U.S. is waiting for new records for weekly updates of crude and refined products to measure the strength of oil demand, consumers of oil in the world.

Increase of 2.2 million barrels in crude stocks last week, the government can show the American Petroleum Institute report on Wednesday will release its report on inventories at the end of the day is planned to increase the gasoline supplies by 1.0 million barrels.

Some support to negotiate the purchase of light after oil prices fell to a seven-week low USD77.11 per barrel in the previous session

Create a cascading effect on the lender Barclays is a UK based, multi-action emergency oil when all other asset classes based on the horror hit the same economic climate, "a report said Monday active participation of technicians, prices fall precipitously, and a lack of respect for the underlying fundamentals. "

Elsewhere in ICE Futures exchange, Brent with delivery in November the American equivalent of USD23.14 a barrel, trading USD105.67 per barrel rose to 1.66%.