Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


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

25.03.2015 16:40

Oil: A review of the market situation

Oil prices rise moderately, receiving support from the weakening of the US dollar. Nevertheless, government data presented on the next increase in commercial oil inventories in the US, holding back further growth. "It seems that this is another statistics on stocks, helping to reduce prices, but the market took it well enough" - said the expert Ritterbusch & Associates Jim Ritterbusch.

US Department of Energy reported that in the week of 14-20 March crude oil reserves rose by 8.2 million barrels to 466.7 million barrels, while analysts' average forecast assumes an increase of 5.6 million barrels. Commercial US crude stocks remain at historical highs over the past 80 years. Oil reserves in Cushing terminal rose by 1.9 million barrels to 56.3 million barrels. This is a new historical high since April 2004. Gasoline inventories decreased by 2 million barrels to 233.4 million barrels, the lowest level this year. Distillate stocks fell by 34,000 barrels to 125.8 million barrels. Utilization rate of refining capacity increased by 0.9% to 89%. Analysts had expected that this figure will grow by 0.5%.

Recall, according to the American Petroleum Institute (API), US crude inventories last week rose by 4.8 million barrels, with growth forecast at 5.1 million barrels to a record level of 450 million barrels. Worries about rising inventories of oil in storage in the United States this month, putting pressure on prices. A steady increase in oil production in the United States against the backdrop of sluggish demand reinforces the view of the imminent exhaustion of oil storage capacity of some.

Rising oil prices also help previously reported by Germany, which pointed to the economic recovery in the eurozone. According to a survey published by the Ifo Institute in Germany, the index of business confidence in Germany strengthened the fifth consecutive month and reached 107.9 against 106.8 in February, exceeding the median forecast of economists, which was 107.4. Also, the expectations index managers of German companies in the near future, the monitored IFO, this month rose to 103.9 points from 102.5 points in February. Experts on average expected increase to 103 points. Value of the indicator related to the current situation increased to 112 points from 111.3 points, which coincided with the consensus forecast.

May futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 48.33 dollars per barrel on the New York Mercantile Exchange.

May futures price for North Sea petroleum mix of Brent rose 55 cents to 55.77 dollars 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