Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

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



16.12.2013 16:41

Oil: an overview of the market situation

Oil prices rose today , while rising above $ 110 per barrel (Brent) and $ 97 per barrel (WTI), against a background of renewed concerns over supplies from Libya . As it became known , Libya failed to reach agreement with tribal leaders to put an end to the blockade of several oil-exporting ports. Libya has cut vital for her oil exports to 110 thousand barrels per day from 1 million in July due to the closure of ports and oil strikes , civil servants and local tribes in the fields . Western countries fear that Libya will slide into chaos due to the inability of the government to control armed groups that helped overthrow Muammar Gaddafi in 2011 and did not lay down their arms .

But analysts warn Commerzban that the impact of negative news from Libya should not be overestimated , given that the country is currently producing only 200,000 barrels of oil per day.

Growth in oil demand also contributed to macroeconomic data from the U.S., which showed that industrial production in November rose 1.1 % compared with October, with growth forecast at 0.6%.

We also add that many investors are waiting for the Fed meeting . December 17-18 U.S. central bank ( Fed ) will hold a meeting at which may decide to reduce the volume of buying bonds to $ 85 billion per month. Such a step may cause an increase in the dollar, which adversely affect the prices of raw materials.

Not unimportant today were data from China , which showed that the expansion in China's manufacturing sector slowed down a bit in the month of December , as production growth is weak, and employment continued to decline even further.

According to the report, the purchasing managers' index for the manufacturing sector from Markit Economics fell in December to three-month low , namely, to reach 50.5 points compared to 50.8 points in November . However, despite this decline, the figure remains above the level of 50 points , indicating that the expansion of the sector .

The price of January futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 97.59 a barrel on the New York Mercantile Exchange.

January futures price for North Sea Brent crude oil mixture increased by $ 1.78 to $ 110.55 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
July 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