• Oil: an overview of the market situation

Market news

3 May 2013

Oil: an overview of the market situation

The price of oil rose, breaking the mark of $ 104 per barrel, after the better-than-expected growth in the number of jobs in the United States, which has raised the prospects of growth in demand. It is learned that in the past month, the level of employment payrolls, excluding s / z sector increased by 165 thousand compared to the value of the March 88 th and the forecast of 145 thousand Moreover, another report showed that last month the ISM non-manufacturing United States declined from 54.5 to 53.1, disappointing investors who had counted on record in the area 54.0. In March promzakazy in the U.S. fell by 4.0% vs. -2.6%. February's figure was revised up from -3.0% to -1.9%.

Also worth noting is that the rising cost of oil continues to support the decision of the European Central Bank to lower interest rates to record lows to stimulate investor appetite for riskier assets. Analysts said the positive outlook for employment in the United States may be more optimistic for the dollar than for oil.

But despite the positive data on the number of jobs, weak activity in the manufacturing sector in the United States and China are still undermines prospects for oil demand from the top two oil consumers.

The cost of the June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 95.64 dollars per barrel.

June futures price for North Sea Brent crude oil mixture rose $ 1.75 to $ 104.50 a barrel on the London exchange ICE Futures Europe.

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