Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:
  • All news
  • Currencies
  • Stocks
  • Commodities

16.07.2014 15:40

Oil: an overview of the market situation

The price of oil rose today, while rising above $ 100.00 per barrel (mark WTI), as data from China pointed to more substantial growth than expected.

According to a report released today by the Bureau of Statistics in Beijing, the first time in the last three quarters of China's economic growth increased by 7.5% compared with a year earlier. In accordance with the average estimate of analysts, the index was 7.4%. Another indicator - industrial production - grew by 9.2% in June compared with a year earlier, exceeding the average analyst estimate of 95 and the May figure of 8.8%. In addition, in the first half of the investment in fixed assets, with the exception of rural households increased by 17.3% compared with a year earlier.

"Statistical data from China have become a positive factor for the oil market, as they indicate that the incentives bring results," - said a senior oil market analyst at Energy Aspects Amrita Sen

Market participants are also watching the situation in Libya. According to the latest information, Libya has increased oil production to 588,000 barrels per day, but various groups continue to fight for control of the international airport of the capital Tripoli.

The course of trade also influenced today's U.S. Department of Energy report that showed: commercial U.S. crude inventories last week fell by 7,525 thousand barrels - up to 375.04 million barrels., While gasoline inventories - increased by 171 thousand barrels. Gasoline inventories rose by 171 thousand barrels and reached 214,492 million barrels. Commercial distillate stocks rose by 2,528 thousand barrels, reaching 124,296 million barrels. Experts expected a decrease of oil reserves by 2750 thousand barrels, gasoline inventories increase by 950 thousand barrels and distillate stocks increase for 2000 thousand barrels. We also learned that the oil terminal in Cushing last week fell by 0.65 million barrels to 20.273 million barrels and refinery utilization in the United States rose to 93.8% against 91.6% a week earlier

Recall that yesterday, the American Petroleum Institute (API) reported a decline in oil inventory in the U.S. by 4.8 million barrels, and the reduction of stocks at the terminal in Cushing at 944 thousand barrels per day. It was also said that distillate stocks rose by 1.3 million barrels, while gasoline inventories fell by 1.6 million barrels.

Cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 101.25 per barrel on the New York Mercantile Exchange (NYMEX).

August futures price for North Sea Brent crude oil mixture fell $ 0.40 to $ 106.21 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • U.S.: Industrial Production (MoM), September 0.1% (forecast 0.2%)
  • Britain can't get full single market access with free movement concessions - Merkel
  • Earnings Season in U.S.. Major Reports of the Week
  • New Zealand CPI, 3Q: 0.2% q/q (forecast 0%), 0.2% y/y (forecast 0.1%)
October 2016
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2016 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Служба технической поддержки:

  • Онлайн-консультация
  • Заказать звонок
  • Написать письмо
Connect with Us
Share on
social networks
Request a callback
Top Page