Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

02.01.2015 16:40

Oil: a review of the market situation

The price of oil continued to decline today, while reaching the lowest level since May 2009 (WTI) amid rising supplies from Russia and Iraq, as well as the decrease in activity in the manufacturing sector in China and Europe.

"The increase in production in North America was a key event last year - said Michael Haile of LPS Partners Inc. New York. - "As a result, the market has reached a tipping point, when production exceeds demand. It has a very negative impact on the economy of Russia, Iran, Venezuela. But it is clear that the global economy is a long-term positive factor. "

As it became known, the official index of business activity in the manufacturing sector in China in December fell to 50.1 against 50.3 in November. The index was above economists' forecasts of 50.0. The official PMI non-manufacturing areas of China in December was 54.1 versus 53.9 in November.

Meanwhile, the euro zone manufacturing activity grew at a slower pace than previously estimated in December, showed the final data from Markit Economics. The final manufacturing purchasing managers index, or PMI Eurozone rose to 50.6, which is less than was originally estimated 50.8 points from 50.1 in November. Production increased at the slowest speed in the current period, half of the annual expansion. New orders rebounded slightly after four months of decline. "Performance in the three largest economies remained restrained in December," said Markit, while the manufacturing industry in France and Italy continued to decline, and the activity in Germany remained low.

Market participants also continued to analyze data on oil reserves in the United States. Recall commercial oil reserves in the US last week fell by 1,754 thousand. Barrels - up to 385,455 million barrels. Gasoline inventories rose by 2,951 thousand. Barrels and amounted to 229,048 million barrels. Commercial distillate inventories rose by 1,874 thousand. Barrels, reaching 125,721 million. Barrels. Economists had expected an increase of oil reserves by 900 thousand. Barrels, gasoline inventories growth for 2000 thousand. Barrels and distillate stocks increase for 2000 thousand. Barrels.

On the dynamics of trade have also influenced the US PMI data. A report published by the Institute for Supply Management (ISM), showed that in December, activity in the US manufacturing sector has deteriorated, and was lower than the forecasts of economists who had expected only a slight reduction in the index. PMI index for the US manufacturing fell in December to 55.5 against 58.7 in November. A reading above 50 indicates expansion of industrial activity. Note that the last value was below the estimates of experts - is expected to decrease to 58.6.

The cost of the February futures on US light crude oil WTI (Light Sweet Crude Oil) dropped to 53.20 dollars per barrel on the New York Mercantile Exchange.

February futures price for North Sea Brent crude oil mix fell $ 0.53 to $ 56.81 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