Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

26.09.2014 15:40

Oil: an overview of the market situation

The cost of WTI crude oil rose moderately today, heading for its second weekly increase, which helped to positive GDP data USA. Prices for Brent, the meanwhile, fell slightly.

As noted earlier, the United States Department of Commerce to improve the estimate of GDP growth in the second quarter of 2014 from 4.2% to 4.6%, based on an annual rate. Revision index coincided with the consensus forecast of analysts. Thus, the rise of the American economy in the April-June was the highest since the fourth quarter of 2012. Rise of the index PCE Core which closely tracks the Federal Reserve System in the assessment of the risks of inflation in the second quarter amounted to 2%. The rating index remained unchanged, as expected. In the first quarter, the indicator rose by 1.2%. Consumer spending, which accounts for 70% of America's GDP in April-June rose by 2.5% in terms of annual growth after an increase of 1%. Experts expect an increase in estimates from 2.5% to 2.9%.

"Improving the economic situation in the United States should have a positive impact on the fundamental prospects," - said Jean Makdzhillian, an analyst and broker Tradition Energy. - "The market is trying to stabilize.

Higher prices also contribute reports that air strikes on eastern Syria, where rebels are based Islamic state, occurred in the major oil fields in the country. But concerns about possible supply disruptions receded in the face of large-scale global production, as Libya has increased volumes despite the economic slowdown in Europe and China. In addition, on Thursday, Saudi Arabia, the world's largest oil exporter, said in August pumped 9.597 million barrels of oil per day. Although the volume decreased by 408,000 barrels per day from about 10 million barrels a day in July, the amount of crude oil supplied to the market, has reportedly increased to 9.688 million barrels per day in August.

Meanwhile, we add that Iran today urged OPEC jointly keep oil prices from falling further, but did not find understanding among the participants of the cartel, whose budgets are less dependent on oil prices. "Given the downward trend in prices, OPEC members should reduce production to avoid further price instability" - proposed Iranian Oil Minister Bijan Zanganeh. Iran's budget to the greatest extent among the 12 OPEC countries depend on world oil prices, so Iran, as a rule, in favor of measures to support prices. Others are members of the organization have not yet expressed concern decline in prices.

The cost of the November futures for the American light crude oil WTI (Light Sweet Crude Oil) rose to $ 92.83 a barrel on the New York Mercantile Exchange (NYMEX).

November futures price for North Sea Brent crude oil mixture fell $ 0.24 to $ 96.75 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
July 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