Financial Communique » barrel

Light crude oil in attacking 100 USD per barrel

Viliyana Filipova — Mon, 14 Nov 2011 14:06:37 +0000

The crude oil prices began the new week with growth, such as quotations reached their highest levels since July. The reason for market optimism gave news related to Europe and Japan. Over the weekend in Italy, which in recent weeks has been under pressure from the markets, was appointed new prime minister after the anti-crisis measures were adopted for next year. That was the condition of former Prime Minister Silvio Berlusconi to quit. In its place stands the former commissioner Mario Monti. The good news from Japan that the country has come out of recession, having experienced the equivalent to an annual basis, growth of 6 percent. This was welcomed by markets as the country’s second largest consumer of oil in Asia after China. In the hours electronic trading on the New York Stock Exchange lightest crude for December delivery reached 99.69 USD per barrel, then a quote is returned to its level on Friday – 98.99 USD per barrel. Last week, black gold recording a growth of 5 percent, achieving the longest series of positive in April 2009 – six consecutive weeks.
Traded in London Brent oil for December delivery rising by 34 cents to 114.50 USD per barrel this morning. The deadline for the December futures trading expires tomorrow, which makes trade in the January contracts more active. They move with an increase of 39 cents from yesterday to 113.32 USD per barrel. Analysts’ expectations are that the lightest crude appreciation may slow and prices to meet resistance. The reason is the 14-day relative strength index of price movements (RSI) is worth 69.3. This, according to many analysts, is the entry level of the market, which may signal a reversal of direction.
“At 100 USD per barrel has a strong resistance level”, said Jonathan bar from Commodity Broking Services in Sydney. “I think the 100 USD per per barrel level will be reached, then will return to 95 USD per barrel”, said the specialist for Bloomberg.

Price of crude oil exceeded 98 USD per barrel

Viliyana Filipova — Fri, 11 Nov 2011 21:37:21 +0000

The crude oil prices went up again, finding support in better-than-expected data on the labor market in the US and restoration of shares of Wall Street losses. Last night in New York futures on US light crude rose 2.04 USD or 2.1 percent, to 97.78 USD a barrel. The price of black gold continues to rise and during today’s e-commerce in Asia, reaching a level of 98.25 USD per barrel. At the end of the session price is 98.07 dollars. In London, the barrel of Brent is quoted at 113.55 USD.
“While price uncertainty may test the 100 USD level,” said Ken Hasegava, a broker based in Tokyo Newedge Group. More on Wednesday the International Energy Agency (IEA) predicted that oil prices could reach 150 USD “in the short term”. However, the agency lowered its forecast for crude demand for this and next year because of economic slowdown in the USA, China and Japan. The analysts from Commerzbank, quoted by MarketWatch, indicate that oil imports in China has shrunk by 1.6% in October compared to September. On an annual basis in October of oil imports in the country has decreased by nearly 27% to 20.8 million metric tons.

The price of crude oil reached 104 USD per barrel

Viliyana Filipova — Wed, 30 Mar 2011 17:56:28 +0000

The crude oil prices fell in the hours prior to today’s stock exchange trading in New York but remains permanently above the psychological $ 100 a barrel. Cheaper energy input comes after the next portion of data increasing oil reserves the U.S. The U.S. light crude for May delivery traded with a fall of 0.3 percent to 104.51 dollars per barrel. The weekly report from the American Petroleum Institute showed at the end of yesterday’s regular trading session in the U.S. that stocks of crude oil in the country increased by 5.7 million barrels last week. This is the fourth consecutive weekly increase their certificates and limited demand for raw materials in the largest economy in the world. U.S. economic data yesterday also showed that consumer attitudes about the economy have deteriorated sharply in March. The price of U.S. light crude has risen by 14% since the beginning of this year and ended yesterday’s session with a rise from 81 cents to 104.79 dollars per barrel. Only in March the energy input is appreciated by 7,6 per cent. The Brent crude cheaper by 0.2 percent to 114.99 dollars a barrel in electronic trading today after yesterday my price rose by 0.3 percent to 115.16 dollars per barrel.
The crude oil prices rose yesterday as troops loyal to Muammar Gaddafi, stopped the advance of rebels to his hometown of Sirte. Oil prices have risen by 23% since the beginning of the protests against the regime of Gaddafi in Libya on February 15th. Libya is the third largest oil exporter in Africa, but civil unrest reduced to near zero oil production in the country.

The price of crude oil increased

Viliyana Filipova — Tue, 22 Mar 2011 07:56:05 +0000

The price of crude oil goes up for a second day today after allied air attacks on U.S. forces, Britain and France over Libya over the weekend increased the risk of disruption of supplies of oil from the third largest exporter in Africa. Meanwhile, the citizens in Yemen protests against President Ali Abdullah Saleh is reinforced by further evidence of the deepening political crisis in the region. The U.S. light crude for delivery in April, rising by 5 cents to 102.38 dollars a barrel in today’s electronic trading on the stock exchange in New York. Its price rose by 1.26 dollars yesterday to 102.33 dollars a barrel, its highest level since March 10st. The April futures on U.S. light crude expire today. More actively traded futures for delivery in May expensive by 1 cent to 103.10 dollars per barrel. The Brent, meanwhile, cheaper by 10 cents to 114.86 dollars per barrel, having traded yesterday with an increase of 0.9 percent to 114.97 dollars per barrel. The U.S., Britain and France intervened in Libya this weekend in support of rebels in the east of the country after the United Nations authorize the conduct of military operations last Thursday. The Allies fired over 100 Tomahawk missiles over the weekend against forces loyal to Muammar Gaddafi, and established no-fly zone over much of the country. The Libyan leader condemned the coalition against his regime, calling it a “coalition of Satan.”
Libya produces about 1.6 million barrels of oil per day until the beginning of the insurgency in the country. The latest production estimates fell to 400 thousand barrels per day, and the embargo by the West is literally interrupted oil exports. According to the analysts of JPMorgan oil production will remain limited and fragile over the coming years, from Societe Generale raised its forecast for the price of Brent to average 109 dollars a barrel this year because of the dependence of European countries by the Libyan oil.

The crude oil prices returned under 100 USD per barrel

Viliyana Filipova — Tue, 15 Mar 2011 21:38:20 +0000

The price of crude oil returned below $ 100 a barrel in electronic trading today in Asia after the session ended yesterday with a minimal increase, holding up over 101 dollars a barrel. The U.S. light crude for delivery in April cheaper by 1.7 percent to 99.48 dollars per barrel, as many factories, power plants and oil refineries in Japan remained closed for a second day today due to damage caused by the devastating earthquake on March 11. The six closed refineries processed 29% of the country’s imported crude oil. This could reduce demand for energy raw materials from the third-largest economy in the world after USA and China. In regular trading yesterday in New York oil rose 3 cents to 101.19 dollars per barrel. In the early hours of the trading price dropped to 98.47 dollars. The reason for this accident occurred in nuclear reactors of nuclear power in Fukushima, which raised concerns about the safety of nuclear power worldwide. The EU Energy Commissioner Guenther Oettinger said the upcoming rigorous view of safety standards in European reactors could lead to suspension of some of them transmit Wall Street Journal. In the event that a reduction of nuclear facilities in Japan and other major countries, this may increase demand for oil for energy generation, say analysts. For small increases in oil prices yesterday helped and unrest in the Middle East after Saudi Arabia sent troops in Bahrain.
The prices of U.S. light crude have risen by 25% over the past 12 months.

The Brent oil is directed to 147 USD per barel

Viliyana Filipova — Tue, 08 Mar 2011 19:10:43 +0000

The price of Brent oil will probably reach his record of 147 dollars per barrel recorded in the summer of 2008. This demonstrates the technical analysis prepared by the analyst ING Wholesale Banking Ryolof van den Acker.
“The crude oil is in a very strong bull market in the long run,” said an analyst for the media. The specialist, however, warns that the growth from the current 114 to a record $ 147 can not come without short-term ‘minimum’ price correction between 108 and 114 dollars a barrel. “To retreat in oil could see a calming of stock exchanges,” said van der Acker. However, this is likely to continue briefly, then the market will continue its upward movement. The potential for retreat of the euro against the dollar is “quite limited” and probably for some time there will be variation in these limits, the analyst said. Today the single currency lost around 0.7 percent against the dollar to 1,3870 EUR / USD. The aim is to euro levels of 1.4250, and then have the opportunity to attack 1,50 EUR / USD and even conquering a record 1.60 dollars per euro, while maintaining the bullish sentiment.

The crude oil price started the session with increase

Viliyana Filipova — Wed, 02 Mar 2011 09:28:58 +0000

The crude oil price broke up and re-pass $ 100 a barrel in the hours after the regular session of the oil exchange in New York today. The reason for this were clashes between demonstrators and security forces in the capital of Iran – Tehran on Tuesday. They reinforced fears that oil supplies from the Middle East and North Africa will be violated. Iran is the second largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) after Saudi Arabia. The country has harvested 3.7 million barrels per day in February. In addition to increased oil prices, unrest in Iran affected and the leading stock index in Saudi Arabia, which fell heavily because of fears that the protests could be transposed into Saudi Arabia. Meanwhile, rebels against the regime of Muammar Gaddafi renewed their clashes with security forces remained loyal to the Libyan leader. The rapid developments in the Middle East and North Africa, where he focused much of global oil stocks rose by 5% the price of U.S. light crude in February with over 11% of the price of Brent variety. In today’s electronic trading, U.S. light crude rose by 0.5 percent to 100.15 dollars a barrel after yesterday jumped 2.7 percent to 99.63 dollars per barrel.
The crude oil is expensive by 26% over the past 12 months. The Brent, meanwhile, dealt with an increase of 0.4 percent to 115.82 dollars a barrel yesterday after the price jumped 3.2 percent to 115.42 dollars per barrel. The price of Brent is the highest since August 2008 and of U.S. light crude – from September 2008.

Crude oil price stayed under 83 USD per barrel

Viliyana Filipova — Fri, 15 Oct 2010 12:38:35 +0000

The crude oil prices remained almost unchanged at levels slightly below $ 83 a barrel in electronic trading today after the weekly report by the Ministry of Energy of the United States showed that oil reserves of the country unexpectedly declined, but demand for fuels on the other hand has fallen to its lowest level in ten months. It has shrunk by 0.7% to 18.3 million barrels per day last week as refineries worked at 81.9 percent of its capacity, which is the weakest recovery of their production capacity since March. The U.S. light crude for November delivery cheaper by 3 cents to 82.66 dollars a barrel in electronic trading today after its price fell 32 cents yesterday to 82.69 dollars per barrel. Brent crude at the same time cheaper by 5 cents to 84.15 dollars per barrel. Yesterday it became clear that U.S. oil stocks unexpectedly fell by 416 thousand barrels to 360.5 million barrels last week. Despite the decrease in oil reserves of energy raw material prices fell because of weak data on the labor market and the U.S. trade deficit. On Thursday in Vienna a meeting of the Organization of Petroleum Exporting Countries (OPEC), who decided to leave unchanged its production quotas this year and agreed to Iran as the next country to accept the chairmanship of the oil cartel. Representatives of Venezuela and Libya said after the meeting that if a barrel of oil traded for between 90 and 100 dollars, it will compensate producers for depreciation of the dollar over the past three months, without increasing risks to the global economy recovers.
OPEC accounts for about 40% of world oil supplies. Oil futures have risen by 4.2 percent this year, but compared to last Friday the price is almost unchanged. Over the past three weeks, oil rose strongly mainly because of the weak dollar, which made its lowest value against the euro on Jan. 26 yesterday. The euro rose to 1.4122 dollars yesterday, but at 9:30 am local time today, the pair EUR / USD is quoted at a level of 1.4054 dollars per euro.

Price of crude oil decreased

Viliyana Filipova — Tue, 12 Oct 2010 11:58:47 +0000

The crude oil prices retreat recorded in the first trading session for the new week as the retreat of the last quotes in hours electronic trading. The reason is the stabilization of the dollar was unable to leave the eight-month low against the euro and 15-year low against the yen. This caused a decline in interest for investments in raw materials. During yesterday’s session in New York the price of oil for delivery in November fell 0.5 percent to 82.21 dollars per barrel. The night quotations decreased by another 1 percent to 81.42 dollars per barrel. Some pressure on the price of black gold have speculation about a forthcoming meeting of the leadership of the Organization of Petroleum Exporting Countries (OPEC). The meeting will be held on October 14 in the Austrian capital Vienna. Expectations are that production quotas and export will not be changed, to support these claims a position of the Saudi oil minister Ali al-Naimi that “prices in the 70-80 dollars per barrel are ideal,” reported Bloomberg. “Do not expect any change,” said Qatari oil minister and Abdullah al-Atia at the beginning of the week. He said this price range for oil is suitable for both the sellers and purchasers.
Yesterday in London of Brent oil fell 0.4 percent to 83.72 dollars per barrel. This morning Brent lost a further 0.75 percent to 83.08 dollars per barrel.

Crude oil price decreased to 74 USD per barrel

Viliyana Filipova — Tue, 31 Aug 2010 12:54:32 +0000

The crude oil prices recorded a decline over the past day, which is mainly due to recent disappointing data on the state of American consumers. To contribute to the pressure and expectations for growth of new oil reserves in the U.S. As part of yesterday’s trading session in New York oil contracts with delivery in October dropped by 0.6 percent to 74.70 dollars a barrel. This morning, the raw material gave a further 70 cents to $ 74 a barrel. Since the beginning of the month the price of oil fell 6.3 percent, although last week there has been a growth of 2.3 per cent. Since the beginning of the year did the black gold has lost 6.8 percent of the price. Fall in oil prices yesterday came because of evidence that Americans’ incomes rose by 0.2 percent last month. This was below market expectations for growth of 0.3 per cent and cause negative feelings. The price of Brent crude oil dropped to the minimum 5 cents to 76.60 dollars a barrel.
This morning in London black gold is traded at 76.10 dollars a barrel, up 0.65 per cent lower than yesterday.