Oil prices fell slightly today, approaching at the same time to $ 105 per barrel, after the armed forces of Egypt turned the country's president, easing concerns about the threat of supply disruptions in the Middle East. The Suez Canal, which is a vital waterway for the transport of oil, has not suffered from the disorder, but analysts warned that the tense situation in the Middle East, which produces a third of the volume of the world's oil, may contribute to higher prices.
We also add that the drop in oil prices also helped the statement from the European Central Bank and the Bank of England, who pointed out that prior to any increase in interest rates far. It should be noted that both the central bank left interest rates unchanged - at 0.5%.
In addition, we note that in addition to the obvious risks to supply in the Middle East because of tensions in Egypt tightens the physical supply of oil export violations in Libya and Iraq as well as the relatively small supply of crude oil Russia.
In addition to concerns about supplies from the Middle East, oil prices got a boost after the last Energy Information Administration said that inventories fell by 10.3 million barrels to 383.8 million, which was the largest decline since 2000 . U.S. Energy Department also reported a drop in gasoline inventories to 1.719 million barrels to 223.662 million data differed with the forecast of analysts who had expected an increase of 700 thousand barrels. Distillate stocks fell 2.418 million barrels to 120.771 million barrels, the forecast increase of 1 million barrels.
At the price of oil also affect the expectations of tomorrow's report on non-farm payrolls, which can be a confirmation of the economic recovery on track. It can also be a sign that the Federal Reserve will cut back its bond purchasing program.
The cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 100.91 dollars per barrel, the highest intraday level since May 4, 2012 on the New York Mercantile Exchange.
August futures price for North Sea Brent crude oil mixture fell $ 0.56 to $ 105.28 a barrel on the London exchange ICE Futures Europe.