Source: ForexYard
Crude oil prices reached a three-day high after better then expected U.S Retail Sales figures and played off the renewed concerns over the financial stability of Spain in the Euro-zone.
U.S retail numbers were on the rise for the month of March, coming as some what of a surprise as the outcome was greater then expected.
Crude for May delivery rose 0.8 percent to$103.77 per barrel on the New York Mercantile Exchange.The commodity was trading just below this rate at $103.68 at approximately 12:00pm London time. Despite the ongoing tensions with Iran and the West, Crude Oil has shown a 4.9% rise in prices for 2012 so far.
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