US Jobs Lost In December Affect Crude Oil

There was a shock increase in the amount of jobs lost in December 2009 in the United States. This has caused concern that the economy there and the demand for fuel will be slower to recover than was expected. Crude oil fell by almost one percent when 85000 jobs were lost last month. But crude oil reserves rose and with plummeting temperatures set to continue, futures rose to the highest level for the last fourteen months.But now many are not looking at the recovery of the United States economy in a positive light because of these figures. The recovery of payroll figures will be much slower too according to many experts. This has led to a decline in consumer confidence and has resulted in the reserves of crude oil rising. Crude oil barrels in the inventories rose by 1.33 million as did gasoline barrels which was up by 3.74 million.There is some speculation though that the inventories will rise again next week and this may result in a fall in crude oil. Many believe that if the
supplies increase, then the price will fall. Normally there is a sudden rise in the price of crude oil when supplies begin to dwindle and in contrast, if there is an excess of crude oil, it is expected that the cost will reduce. But we will just have to wait and see. The only thing that we can be sure of is that there has definitely been a spoke in the works regarding the speed with which we can expect the American economy to recover especially with the news of those job losses in December.Hopefully, the American economy can start to get back on track sooner rather than later which may kick start an upsurge in the rest of the global economy. There needs to be an increased demand for fuel before signs will show us that things are on the right track.Getting the home heated up during winter can be very expensive. Gas and electricity are very expensive today, with no signs of prices coming down. Clever people are switching to heating oil as a fuel though. After the changeover t
hey have to make sure that the storage tanks are always full of Boilerjuice to ensure they never run out.

View this post on my blog: http://madeinhome.info/us-jobs-lost-in-december-affect-crude-oil