European and American oil prices support the expansion of prices

Affected by the weak demand from US oil, New York's oil prices fell for four consecutive trading days, but on the 3rd, the US non-agricultural employment data turned positive. At the close of the day, the price of light crude oil** delivered by the New York Mercantile Exchange in March rose by $1.48 to close at $97.84 per barrel, an increase of 1.54%. The London Brent crude oil price in London in March rose by 2.51 US dollars to close at 114.58 US dollars per barrel, an increase of 2.24%.

However, from a week ago, New York's oil price fell by more than 1.7% during the week, and London Brent's oil price rose by 2.8%. The spread of oil prices between the two places is once again approaching 17 US dollars. With the evolution of the Iranian situation and the debt problem in Europe, the fundamentals of crude oil between the two places may continue to spread.