• Oil: а review of the market situation

Noticias del mercado

6 abril 2015

Oil: а review of the market situation

The price of oil has increased significantly today, while reaching the level of $ 58 (Brent) and $ 52 (WTI), as traders make reassess how quickly Iran could increase exports, as well as many months of waiting for slow growth stocks in the United States.

Recall that in last Thursday Brent fell by 4% amid reports of an agreement on Iran's nuclear program. If by June will be full agreement, Iran will be able to increase oil exports. However, analysts say that it will not happen before 2016.

"While it is clear that a final agreement and complete lifting of sanctions will put pressure on prices, there is still a number of obstacles, - said the Morgan Stanley. Even if an agreement is reached, we do not expect any physical impact on the market until 2016." .

Also, market participants continue to analyze data on the number of drilling rigs. Recall weekly report Baker Hughes showed that the number of drilling rigs operating in the US last week fell by 11 to 802, which was a minimal decrease from December.

Higher prices also help data from industry group Genscape, which showed that stocks at the terminal in Cushing, Oklahoma, barely rose last week, registering a minimal increase in November.

In addition, the oil becomes more expensive amid reports that Saudi Arabia, the world's largest oil exporter, has raised the official selling price for the April and May games for Asia. "Companies continue to compete for the Asian market, although it is also a sign of the fact that some producers are less competitive," - said analyst BMI Research Shunlin Yap.

Market participants are also monitoring the situation in Yemen. Recall in 2014 in Yemen last conflict between the Shiite group "Ansaralla" and government forces. In March 2015 took part in the war coalition of Arab states led by Saudi Arabia to the Government of Yemen. March 26 Saudi Arabia launched a military operation against the rebels Huthis who control much of Yemen. By the end of Thursday, April 2, the rebels seized the center of Aden - the city in the south, where escaped from Sanaa ousted president. Among the buildings and captured his residence.

May futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 52.08 dollars per barrel on the New York Mercantile Exchange.

May futures price for North Sea Brent crude oil mix has risen by 2.90 dollars to 58.01 dollars a barrel on the London Stock Exchange ICE Futures Europe.

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: