Crude oil prices gain in early returns session Wednesday, after us economic data stoked worries about a weak level of demand. Oil Brent got up early in the session, recovering from a downturn lately, as investors become less anxious about the European zone due to the high demand at an auction news bonds Spain. However, despite many interesting peminta, investors still pessimistic outlook towards Spain's fiscal 87EYSB43FMS8.
Crude oil prices moving down after data showed us jobless claims levels down to less than expected, while the rate of home sales down outside estimates as well as activities of the factory in mid-Atlantic slowed down. "Unemployment and housing Data doesn't support, adding to the bearish supply data on Wednesday," said Kyle Cooper, a partner at IAF Advisors in Houston.
Home sales currently available down by 2.6 per cent in March from the previous month at an annual rate of seasonal adjustment in 4.50 million units, becoming the report data to the National Association of Realtors showed Thursday. The results were worse than expected. Economists in a Dow Jones Newswires Survey predicts home sales menignkat of 0.4 percent on a monthly basis from the previous reports results in February to increase the rate of 4.71 million units annually. However, despite noting a decrease in monthly, quarterly first 2012 is the beginning of the best this year for home sales, which are available since 2007. Sales results in March, 5.2 percent over the same month last year to 87EYSB43FMS8.
Meanwhile, supplies of previously owned homes listed for sale increased to 2.37 million at the end of February. Representing the inventory sales rate of 6.3 months at the current rate, which is considered by economists. "We heard more frequently hear from Realtors about the shortage of supplies," said Lawrence Yun, Chief Economist Realtors. "They have clients who want to buy but can not find the property." The average sale price in March was $ 163.800, up 2.5 per cent from $ 159.800 the previous year. The Realtors group said, one reason for the price rise is a division of decrease in foreclosure and other distressed properties 87EYSB43FMS8.
Posted in: Bad Data of U.S To Destroy Oil Prices