Investor Optimism

Speculation boosted investor optimism that demand in the world’s largest economy U.S. is recovering. The U.S. labor market report shows U.S consumer spending has not improved for a third month.
Contracts for crude have also been formed using speculation as a base, crude oil for May delivery rose as much as 1.2 percent to $85.89 a barrel in after-hours electronic trading on the New York Mercantile Exchange, the highest since Oct. 9, 2008. It was trading at $85.21 in Asia trading. Speculation showed economic data indexes are getting better and that is supporting crude oil prices, so now we have no economic recovery and prices are struggling above $87 with no evidence of growth, this will cause a revenue drop in most crude dependent states as there will be a decline in demandover the next months. Oil prices have established a floor of $75 a barrel and there is no need for OPEC to increase production, Venezuelan Oil Minister Rafael Ramirez said April 2.
The Organization of Petroleum Exporting Countries pumps about 40 percent of the world’s oil and slashed output in January 2009 to prevent a glut. The group left its production targets unchanged when ministers met in Vienna on March 17. Some petrol companies in Europe use every available excuss to inflate final consumer prices as is the case with Portugal... As http://so-buracos.blogspot.com/ informed last week, the price of petrol for the motorist in Portugal this week has once more increased...The price per litre has passed the 1,44 Euro for the first time in 19 months, Portugal continues to have one of the highest consumer price for petrol in the world ...The companies involved in this squeme are, Galp 1,449 euro, Cepsa 1,449 euro, BP 1,459 euro, Repsol 1,414 euro, these prices are for regular 95 Octane.