Oil prices fell slightly today , due to the instability in Ukraine. Traders reacted to the news of the approval by the Verkhovna Rada of Ukraine of the government of national trust , as well as the statement of Yanukovych.
" The unresolved situation in Ukraine influence on the markets. Given the geographical location of the country , it is obvious that instability will have a greater impact on the Brent, than WTI », - the director of Mizuho Securities USA Inc. Bob Yoger .
On the dynamics of trade continue to influence the message yesterday from the U.S. Department of Energy that inventories at the distribution terminal Cushing fell again , showing the fourth consecutive weekly decline .
" Brent is cheaper in connection with the departure of investors from the risks and fears of falling demand - analyst Carsten Fritsch, Commerzbank AG . - Decrease in inventories at Cushing , as well as less significant than expected increase in oil inventories in the U.S., led to a decrease in the spread between the prices Brent and WTI ".
The spread between Brent prices and WT during the bidding reached $ 6.45 , which is the lowest since October 9, 2013 .
Concern about the prospects of China's consumption - the second largest oil consumer in the world , is also putting pressure on oil prices , as the survey showed that manufacturing activity probably fell in February.
Prices have also responded to the words of the head of the Fed. During his speech, Yellen moved away from specific targets to increase the Fed's rate :
- Trust threshold unemployment rate at around 6.5 % was useful in periods of high unemployment , as restrained speculation on rate hikes
- In the context of lowering rates b / d the Federal Reserve will have to cover the situation in a broader perspective , to decide at what stage of the labor market is strong enough for tightening CB
- Of course, the unemployment rate is not exhaustive indicator of the health of the labor market
- To estimate it is necessary to take into account all the indicators
April futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 102.24 a barrel on the New York Mercantile Exchange (NYMEX).
April futures price for North Sea Brent crude oil mixture rose 70 cents to $ 108.75 a barrel on the London exchange ICE Futures Europe.
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