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13.03.2014 15:40

Oil: an overview of the market situation

Oil futures show mixed results , as weaker -than-expected Chinese economic data fueled fears for the future demand . The course of trade also continues to influence the tense situation between Russia and Ukraine.

According to figures released today by the State Statistical Office of the country , China's industrial output in January-February 2014 grew by only 8.6% compared to the same period last year , while analysts had expected an increase of 9.5% on the figure . And disappointing data on retail sales, which showed a rise in February, only 11.8% , while analysts had expected an increase of 13.5 % figure . In addition, upset and figures on the volume of investment in fixed assets in China , which increased for the first two months of the year by 17.9 %. Experts expect the growth rate of 19.4 %. It is worth noting that China does not give separate figures for January and February , combining statistics for the first two months of the year , allowing you to avoid misrepresentation in connection with the celebration of the New Year according to the Lunar calendar , which falls every year on different dates .

Concerns about the growth of demand in the market strengthened and news from the U.S. . It is learned that the Americans are planning to hold a test sale of oil from the strategic reserve , as has been rumored in the media led to a drop in oil prices by 2%. Test volume was insignificant, but symbolic. Thus, on the eve of " referendum " in Crimea Americans have shown that they are willing to include the most powerful anti-Russian arms - derail oil prices . But the market is now formed a record long speculative positions in oil. And if we can provoke them unloading , then the fall in oil prices by 20% and sales of strategic reserves is not required.

Slightly influenced the course of trading today's data on the U.S., which was better than many experts had expected .

April futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 98.34 per barrel on the New York Mercantile Exchange (NYMEX).

April futures price for North Sea Brent crude oil mixture declined 47 cents to $ 107.74 a barrel on the London exchange ICE Futures Europe.

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