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09.04.2013 15:40

Oil: a review of the market situation

Oil prices fell slightly, while Brent crude oil price down below $ 105 per barrel, close to eight-month low, as investors worried that the global growth faltering and the recession in some developed countries will increase the demand for energy, and will increase the global supply.

Also add that the rise in oil prices also contributed to concerns about rising tensions in North Korea and the impasse in the negotiations between Iran and the West, as well as concerns about possible disruption of fuel supplies from the Middle East.

Meanwhile, we note that some support oil have data on inflation in China, which can help strengthen the demand side of the second largest oil consumer in the world. According to the report, annual consumer inflation in China slowed in March to 2.1% from 3.2% in February, while the producer price deflation deepened.

Note also that the oil markets are waiting for data on U.S. crude inventories for the week ended April 5. Recall that the report, which was submitted last week, showed a marked increase in inventories, which contributed to the fall in prices to eight-month low.

May futures for U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 93.17 dollars per barrel.

May futures price for North Sea petroleum mix of mark Brent rose to $ 104.97 a barrel on the London Stock Exchange ICE Futures Europe.

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