Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


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

24.09.2014 15:40

Oil: an overview of the market situation

Oil prices declined moderately today, reaching its lowest level in the last two years, as rising supplies from Africa and Iraq offset concerns about the situation in the Middle East. Add this quarter the price of oil has fallen by about 14 percent, which is the largest decline since the second quarter of 2012.

But, in spite of the fall in prices, the World Bank analysts said that, according to forecasts, the average price of oil on the world market will not fall below $ 100 per barrel in 2014-2015. "We expect the recent trends in the oil market and forecast the average price of oil at $ 103 per barrel in 2014 and $ 100 per barrel in 2015," - the report says the World Bank. In the long term, according to experts of the international organization, it is expected a decline in oil prices in real terms due to the increase in the supply of crude oil produced in unconventional ways, and the use of alternative fuels. The World Bank also expects that in 2014 global oil demand will increase by 1.1 million barrels per day, reaching 92.7 million barrels per day in 2014 and 94 million barrels per day in 2015. On the supply side is expected to increase the volume of oil production in Iraq and Libya.

The fall in prices has also been associated with weak European data. Recall yesterday's report showed that the composite PMI index of euro zone, which combines service sector activity and production fell to a nine-month high of 52.3 from 52.5 in August. PMI for the services sector of the currency bloc deteriorated to three-month low of 52.8 from 53.1 in August, while the expected value of 53.0. Meanwhile, today's data showed in September business climate indicator from Germany IFO worsened for the fifth month in a row. Business Climate Index fell to 104.7 from 106.3 in August. Economists had expected a decline to 105.9.

Also today, it became known that commercial oil stocks in the United States last week fell to 4,273,000. Barrels - up to 357,998 million barrels. This was stated by the Ministry of Energy. Gasoline inventories decreased by 414 thousand. Barrels and reached 210,324 million barrels. Commercial distillate stocks rose by 823 thousand. Barrels, reaching 128,595 million barrels. Economists had expected an increase of oil reserves by 750 thousand. Barrels, gasoline inventories immutability and distillate stocks increase by 500 thousand. Barrels.

The cost of the November futures for the American light crude oil WTI (Light Sweet Crude Oil) fell to $ 91.38 a barrel on the New York Mercantile Exchange (NYMEX).

November futures price for North Sea Brent crude oil mixture fell $ 0.70 to $ 96.06 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • Donald John Trump will be the 45th president of the United States
  • Britain can't get full single market access with free movement concessions - Merkel
  • China: Trade Balance, bln, October 49.6 (forecast 51.7)
  • New Zealand CPI, 3Q: 0.2% q/q (forecast 0%), 0.2% y/y (forecast 0.1%)
January 2017
  • 2017
  • 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

  • © 2011-2017 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