FX & CFD trading involves significant risk
The price of oil rose slightly, recovering from a seven-month low, due to the expectations of the release of data on oil reserves in the United States.
According to the poll news agency Bloomberg, market participants predict that crude oil inventories fell by 1.8 million barrels to 360.7 million, while gasoline consumption - by 1.7 million barrels. Stocks of distillates, including heating oil, will be reduced by 300 thousand barrels. In general, the report may show an increase in demand for crude oil and petroleum products in the United States, but production in the country is still in the thirties and highs will reach 8.5 million barrels per day, which will limit the ability of rising prices. Investors also awaited the release at the end of the day the American weekly inventories data from the American Petroleum Institute, which will show the level of demand for oil from the largest consumer in the world.
Support prices have today's data on orders for durable goods in the United States. Ministry of Commerce announced that orders for costly manufactured goods rose in July to record levels due to the large increase in purchases of aircraft, even though the underlying data showed a slowdown in business spending last month. Orders for durable goods - such as airplanes, cars, and heavy equipment, which are intended for use for at least three years, rose to a seasonally adjusted 22.6% to $ 300.1 billion. In July compared with the previous month. It was the sharpest increase and the highest level of a data series, since 1992. The growing demand for new aircraft was a big part of the increase, reflecting strong sales corporation Boeing. Aviation giant reported that he had received orders for a record 324 aircraft last month. Excluding transportation orders fell by 0.8%, despite the fact that the increase in the previous month's figure was revised up to 3%. Economists had forecast a rise in the total volume of orders by 7.4%.
On the dynamics of trade also influence the expectations of the results of the meeting Russian President Vladimir Putin and Ukrainian President Poroshenko. On Monday, Ukraine reported that from Russia on its territory included armored column of 10 tanks, while Moscow said it plans to send a second convoy with humanitarian aid.
Market participants and monitor the situation in Iraq and Libya. Ambassador of Libya to Egypt on Monday asked for foreign aid for the protection of Libyan institutions, airports, and natural resources. United States is considering military options against Islamists in Syria, but it is limited to air strikes in Iraq.
The cost of the October futures on American light crude oil WTI (Light Sweet Crude Oil) to the present moment has increased to $ 93.91 per barrel on the New York Mercantile Exchange (NYMEX).
October futures price for North Sea Brent crude oil mixture rose $ 0.08 to $ 102.79 a barrel on the London exchange ICE Futures Europe.
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.