Sunday, November 19, 2017

Oil held near six year lows

Oil held near six-year lows

Today,
after disappointing GDP report
Japan in the II quarter,
World oil prices fell again. In
Brent during the Asian session
It reached $ 48.42
per barrel, but to 13.19 MSK price of futures
He has risen to the level of $ 49.27.
WTI stands
$ 42.76 per
barrel for October delivery.
Additional short-term factors
negative influence - the new growth
drilling rigs operating on
American shales, for the fourth
week in a row.


Economy
Japan, the world's third consumer
Oil fell in the second quarter,
adding the market's concerns about the slowing
demand for oil. Experts say that
oversupply is increasing, and therefore,
the energy market bearish
mood.


short-term
statistical factor is added
even OPEC, where production is still
It is at record levels. Expected
and the growth of exports from Iran after
with Tehran will be removed as a result of sanctions
the recent ratification of the nuclear agreement.


"Control
shot ", according to analysts Societe
Generale - end of the vehicle
summer season. short-term demand
because of this falls under the additional
pressure.


And finally,
Another negative factor - the beginning
Seasonal refinery maintenance, which
In September and October, significantly reduce the
power, and therefore buy less
raw materials.






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