Oil Price cut down in Asia Trade

By One news we get that the Oil is down in Asian trade from Tuesday 30th April 2013. This is due to gain the profit in month of May because there are a lot of holidays in that month. Through some reports we come to know that the price rate will be dropped from delivery in June in New York about 17 cents ro $94.33 per barrel. and in North Sea the price will cut down about 13 cent to $103.68 per barrel.

The managing Director of IHS Purvin in Singapore told that[quote]

Prices are slightly lower but holding steady… We’re also seeing some minor profit taking after yesterday’s gains

 

[/quote].

No the All trader of the Oil can sale the oil by the newly announced price. There is just a minor chang in the rate of change of Prices in Asian Trade. Traders took some encouragement from expectations that monetary easing policies of the major central banks would remain in place during meetings this week, and that the ECB could even cut its key rate in hopes of boosting growth in the eurozone.