U.S. Oil Prices Decline as Fed Exuberance Wanes
Summary and analysis- The article titled as, “ U.S. Oil Prices Decline as Fed Exuberance Wanes” appeared in Wall Street Journal on 10/8/13 12:24 AM, later on updated on September 20, 2013, 2:41 p.m. ET. The article was written by BRETT PHILBIN focusing on the issue of declining of oil prices in open market due to current fluctuations in the production and other political pressure. In the US Federal Reserve’s is still easing the monetary policy despite of current disturbances in Middle East. The effect of the change of the political situation is different in Europe and USA, the prices of oil goes down mainly due to overdone production resumption of Libyan oil. The assumption acts as future market and contract goes in different mood in Europe and USA. The tension of Syria and US over the issue of chemical warfare also added the sensitivity to issue of oil prices. At the end of trading session, the prices fell 65 cents or 0.6% to $105.74 a barrel on the New York Mercantile Exchan