Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

19.11.2014 16:40

Oil: A review of the market situation

The price of oil rose moderately, closer to $ 79 (Brent) and $ 75 (WTI) amid speculation that OPEC may take measures to stabilize prices, which have fallen by almost a third in five months.

It is worth emphasizing that the oil ministers of Saudi Arabia and Kuwait are opposed to the reduction of production, while Libya, Venezuela and Ecuador are insisting on the adoption of measures to prevent further price declines. OPEC oil ministers scheduled a meeting in Vienna on November 27, during which intend to consider whether to adjust the current volume of production at 30 million. B / d at the beginning of 2015.

"Agreed to reduce production will be difficult. I think that the market does not believe in it, and even if OPEC said it was ready to cut production, I think many would react skeptical, "- said a senior strategist at CMC Markets in Sydney, Michael McCarty.

Meanwhile, today the head of the Energy Information Agency of the Ministry of Energy of the United States allowed the fall of Adam Seminsky world oil prices to $ 50 per barrel. He also said that according to forecasts of most analysts, WTI crude oil falls to $ 62 per barrel by mid-2015. With oil prices at $ 60 per barrel increase in the production of shale oil in the US may stop Seminsky added. However, to accurately predict the cost of oil Seminsky not. Predict the price of oil prevented the geopolitical problems and conflicts in Libya, Iraq and other countries.

The course of trade also affected the data on oil reserves in the United States. The Department of Energy reported that commercial oil reserves in the vaults of the United States during the week of 8-14 November rose by 2.6 million barrels to 381.1 million barrels, while the average forecast assumed their fall by 1 million barrels. Stocks rose to a maximum of 4 July. Oil reserves in Cushing terminal rose to 23.2 million barrels, the highest level since May 9. Gasoline inventories rose by 1 million barrels to 204.6 million barrels. Analysts expected gasoline supplies to increase by 600,000 barrels. Distillate stocks fell by 2.1 million barrels to 114.8 million barrels, the lowest level since May 9, while analysts had expected a decrease of 1.4 million barrels.

Utilization rate of refining capacity rose to 91.2%. Earlier, analysts expected an increase in the index by 0.3 percentage points.

We also recall that yesterday after markets closed the American Petroleum Institute reported that US crude stocks rose 3.7 million barrels for the week ended November 14th. The report also showed that gasoline inventories rose by 519,000 barrels, while distillate inventories decreased by 3.3 million. Barrels.

Cost of January futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 74.70 dollars per barrel on the New York Mercantile Exchange.

January futures price for North Sea petroleum mix of Brent rose $ 0.36 to $ 78.76 a barrel on the London Stock 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