Crude oil rises to $81, China Maintain Stimulus

Chinese PRIME MINISTER Wen Jiabao, in his annual speech in front of the National People's Congress, said that the largest oil consumer countries 2nd this world will continue loose monetary policy and active fiscal policy. Fundamentally, thanks to cold weather in the northern part, stock, including stock in the ship, has been declining, said Keichi Sano, GM of research at SCM Securities in Tokyo. But the market doesn't look too strong to break out over levl $85, said Sano.

 Oil is now traded in a narrow range despite the existence of a fear of China's monetary tightening policy or issue in Greece, or the potential for the increase because of the tensions in Iran. The euro fell versus the dollar Thursday, bringing oil prices down, because the ECB's comments strengthened the view that eurozone interest rates will remain at low levels for a while.

A strong dollar depresses oil prices as this will make the berdenominasi dollar commodity more expensive to holders of other currencies. The price of New York crude oil traded at $84-$69 range in the next few months amid uncertainty about the speed of the global economic recovery. Some traders and analysts say that currency movements would probably hold an important role to push the price goes up penetrate limit-limit. I don't think that the market can penetrate the range, but the euro-dollar moves very wild, so in the end give a reason for the breakdown, said Sano.

Militant factions in the Delta Biger, Nigeria said Thursday that oil facilities are explode has been operated by Agip Italy on both attacks and has warned foreign oil companies to leave the region. There is no independent confirmation about the attack.