Oil prices may rise if Iranian exports are blocked

Note: This section contains information in English only.
Source: Commodityonline

After the report of IAEA on possible development of nuclear weapons by Iran, Western economies warned Iran on blocking its oil exports. The country responded that in case the exports are ceased the average price for oil will jump above $250/bbl thus slowing down the global recovery after crisis, said Ramin Mehmanparast, spokesman of Iran's Foreign Ministry.

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Mon, 05 Dec 2011 17:00:03 GMT

European stocks increase

European stocks increased on the optimism across the euro-zone as Italy adopted austerity measures and investors are inspired by the meeting of leaders of Germany and France. The Stoxx Europe 600 added 0.7% to 242.47 in the early trade. Financial shares also gained; KBC Group NV added 9.3% in Brussels, Lloyds Banking Group PLC increased by 6.3%, Banco Espirito Santo SA rallied 4.9%.

Mon, 05 Dec 2011 16:58:59 GMT

US factory orders declined more than expected

US factory orders dropped more than projected in October, decreasing for the second month in line, according to official data. Factory orders decreased by 0.4% on a seasonally adjusted basis in October while analysts expected 0.3% decline. After the data release greenback edged down against the euro. EUR/USD thus gained 0.55% to 1.3467.

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