Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


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

14.02.2014 16:40

Oil: an overview of the market situation

Oil prices declined moderately today as weak U.S. economic data could compensate for the increase , which was connected to supply disruptions in Libya and Angola.

Experts note that an unexpected drop in U.S. retail sales surge in January and weekly claims for unemployment insurance caused doubts about the accelerating growth in the world's largest economy and undermined expectations of increasing global oil demand growth this year.

" Prices have fallen during today's session , as the weaker outlook for demand in the United States and the decline in producer prices in China have reduced investor interest in buying ," said Kas Kamal , an analyst at Sucden.

Oil experts, however , remain optimistic about global growth in oil demand .

Recall that the report presented today in China showed that consumer prices rose 2.5 percent in January compared with the previous year , registering the same rate of increase as in December. Experts expect that consumer prices will rise by 2.4 percent. On a monthly basis , consumer price inflation accelerated to 1 percent from 0.3 percent a month earlier. For the entire 2013 , inflation was 2.6 percent , well below the government's target of 3.5 per cent .

At the same time , it was reported that producer prices fell by 1.6 percent year on year , compared with a decline of 1.4 percent in December. The rate of decline matched economists' expectations and remain in negative territory for almost two years. On a monthly basis , producer prices fell 0.1 percent in January , while fixing the first drop in the past six months.

On the dynamics of trade also influenced appeal of the International Energy Agency (IEA ) to the Organization of Petroleum Exporting Countries (OPEC) to increase oil production.

Oil stocks in developed countries fell to a 5-year low amid strong demand , and oil prices since the beginning of the year increased by 9 %. In order to cool slightly overheated market , the IEA and OPEC asked to increase production quotas .

Current daily limit supply by OPEC countries - 30 million barrels per day , the actual daily volume of deliveries in January amounted to 29.94 million barrels per day

During the last three months of 2013 oil reserves in the group of OECD countries declined by 1.5 million daily barrels , so quickly reserves are not depleted in 1999.

One of the leaders to increase demand for oil was U.S. . And, as analysts predict this trend will continue for some time .

The other day , OPEC and U.S. Energy Information Administration raised its forecast for global oil demand in 2014. The IEA raised its forecast to a record 92.6 million barrels per day , down 1.3 million barrels a day more than last year .

Traders also respond to data from the U.S. Department of Energy , under which oil reserves rose by 11.1 million barrels over the past four weeks.

March futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 99.92 a barrel on the New York Mercantile Exchange (NYMEX).

March futures price for North Sea Brent crude oil mixture fell 46 cents to $ 108.25 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • US nonfarm payrolls rise more than expected in July
  • Canada’s merchandise trade deficit widens in June
  • Canada unemployment rate falls to lowest level since October 2008
  • Canada Ivey PMI falls less than expected in July
August 2017
  • 2017
  • 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

  • © 2011-2017 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
Request a callback
Top Page