Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

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



05.11.2013 16:41

Oil: an overview of the market situation

The price of oil fell moderately today , having fallen at the same time to the lowest level in more than four months on speculation that U.S. crude inventories increased last week , which could become the seventh consecutive weekly increase .

Experts expect that tomorrow's report from the Energy Information Administration show that U.S. crude inventories last week rose by 2.2 million barrels - up to 386.1 million barrels , while stocks of fuel fell by 400,000 barrels, while distillates - by 1.5 million barrels. Note that in the past months , oil production in the U.S. rose to a 24- year high , while the idle plants for maintenance, and that reduced the demand for crude oil.

"The dynamics of prices relatively restrained . Minimal movement in the market may be related to the desire of investors to wait until the release of weekly U.S. Energy Department report , which will give them information about the stocks in the country ," - said the head of the investment department of Phillip Futures Theo Sai Hwa .

In addition, many market participants continue to pay attention to the news from Libya, which in the coming days plans to restore the terminal Hariga oil exporter . Currently, the country is gradually restoring the volume of oil production and exports after the closure of facilities in connection with the armed conflict.

We also add that today, Goldman Sachs analysts downgraded forecast of oil production in the OPEC countries for the current year by 190 thousand barrels per day in connection with possible supply disruptions from Libya. The medium-term outlook for the bank's cost of Brent crude oil is left at $ 110 per barrel.

However, adding that a further drop in oil prices supported the European Commission forecasts that the growth of real GDP in the euro area in 2015 accelerated to 1.7 % from 1.1% in 2014. In 2013, the rate will be reduced by 0.4 %. At the same time, the regulator expects to reduce the level of public debt in the region in 2015 to 95.4% of the region's GDP from 95.9 % of GDP in 2014.

The cost of the December futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 93.60 a barrel on the New York Mercantile Exchange.

December futures price for North Sea Brent crude oil mixture fell $ 0.39 to $ 105.77 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
March 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

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.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page