NEW YORK, KOMPAS.com — West Texas Intermediate oil price rises for fourth day as consumer confidence improved so that the United States gave the signal that the country's economy was in recovery, and increased tension in the Middle East.
WTI oil price for delivery in September, rose 41 cents, or 0.4 percent, to 96,01 US dollars per barrel, on the New York Mercantile Exchange on Friday local time or Saturday (18/8/2012) morning. This designation is the highest price since May 11, 2012.
Brent oil price for October was down 1.56 designation instead of the US dollar, or 1.3 percent, to 113,71 US dollars per barrel, the ICE Futures Europe exchange based in London, United Kingdom. The consumer sentiment index to the Thomson Reuters/University of Michigan rides exceeds the estimate.
The index to the beginning of August rose to 73,6 of 72,3 on the previous month. While Bloomberg survey estimated the index down was quite thin to 72,2.
The main indicator for economic prospects Conference Board in three to six months ahead up 0.4 percent after declining a revised 0.4 percent in June. But economists predict an increase in just the previous 0.2 percent.
On the other hand, Hezbollah threatened to retaliate if Israel attacked Iran. Security issues are also on the rise in Syria and Lebanon. Tensions in the Middle East region is also pushing oil prices to rise. "The Economic Data continues to improve," call Jacob Correll, analyst at Summit Energy Inc., based in Kentucky, USA.
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