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05.07.2013 15:40

Oil: an overview of the market situation

The cost of oil futures rose sharply, rising at the same time to $ 107 per barrel, and reached a 14-month high. Note that the quotes are rising because of fears of oil supply disruptions from the Middle East. On Friday, Egypt completely closed the border with the Gaza Strip against militants in the revitalization of the adjacent Sinai. Local media reported the death last night of Egyptian border guard and wounding two of his fellow soldiers in Rafah. The situation on the peninsula escalated two days after the Egyptian military ousted the president-Islamist Mohammed Morsi. In addition, the previously reported that the Egyptian army units in the Sinai and Suez are on high alert after attacks against Egyptian security forces.

We add that the rise in prices has also helped the U.S. report. According to a report published by the Ministry of Labor, employment in the U.S. increased in June, more than expected.

The report states that the number of jobs outside of s / x U.S. in June rose by 195 thousand with expectations of growth in the number of 162 thousand jobs in May revised to 195 thousand from 175 thousand

Despite the stronger-than-expected job growth, the unemployment rate remained unchanged at 7.6%. It was expected that the unemployment rate will fall to 7.5%. The unemployment rate in May was not revised (7.6%).

The number of jobs in the private sector in June rose by 202 thousand, while the number of jobs in the manufacturing sector in June -6 th, in the service number 187 thousand jobs in the budget -7 th June, federal -5 th . Overall length of the work week in June was unchanged at 34.5 hours Average hourly earnings in June, 0.10 dollars to 24.01 dollars

Also today it was announced that Goldman Sachs Group maintained its three-month forecast for Brent crude oil at $ 105 a barrel.

The cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 102.46 dollars a barrel on the New York Mercantile Exchange.

August futures price for North Sea Brent crude oil mixture rose $ 1.68 to $ 107.18 a barrel on the London exchange ICE Futures Europe.

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