Financial Communique » crude oil

Crude oil price again pointed to 77 USD per barrel

Viliyana Filipova — Tue, 20 Jul 2010 18:26:11 +0000

The crude oil price rose over the past day, as the quotations again turned to 77 dollars a barrel. This gave rise to some positive signs for the Chinese economy and the retreat of the dollar. Oil supported the second consecutive growth indexes in China. He came because data for increased domestic consumption, leading to increased profits of car manufacturers. This gives rise to expectations that demand for fuels in the country will increase. On the New York Stock Exchange yesterday, oil contracts with delivery in August increased its price by 0.7 percent to 76.54 dollars a barrel. The deadline for trading with them expires today, but this morning their price increased by 0.15 percent to 76.65 dollars a barrel. The September futures which are already traded more actively, rose 0.1 per cent to 77 dollars a barrel. This morning the euro managed to advance to 1,2968 EUR / USD, and again towards the attack rate of 1.30 dollars per euro.
Yesterday in London, Brent crude oil of rose 0.3 percent to 75.62 dollars per barrel, and today the raw material traded unchanged and the same level.

Crude oil is trading for over 72 USD per barrel

Viliyana Filipova — Tue, 06 Jul 2010 23:47:09 +0000

The price of U.S. light crude went up and centered around 72 dollars a barrel during electronic trading today on the New York Petroleum Exchange, increasing for the first time in ten days. This gave rise to expectations that the data of the American Petroleum Institute, to be published today will show that U.S. stocks of raw energy decreased. U.S. is largest consumer of petroleum and petroleum products in the world, followed by China. The average forecast of analysts surveyed by Bloomberg, shows a decline in oil reserves of 2.75 million U.S. to 363.1 million barrels last week. Official figures of the American Petroleum Institute is expected before the end of today’s trading session in the U.S.. Price increase helped the successful auction of government securities of Spain, which was held yesterday, writes Bloomberg. The country sold 10-year government bonds for 6 billion euros, orders were submitted for 13 billion because of strong interest from investors. U.S. light crude for August delivery finished yesterday’s session with a fall in the price of 16 cents to 71.98 dollars a barrel. During the e-commerce Today it more expensive by 0.2 percent to 72.11 dollars a barrel. Since the beginning of this year its price has fallen by 9.2 per cent.
Meanwhile, Brent crude oil more expensive also 0.2 percent to 71.60 dollars a barrel in electronic trading hours of the London Petroleum Exchange today. The price of oil futures fell 2 percent to 71.45 dollars per barrel by the end of yesterday’s session.

Crude oil price is under 72 USD per barrel

Viliyana Filipova — Tue, 06 Jul 2010 04:05:00 +0000

The crude oil trades decreased for the seventh straight day during today’s electronic trading in New York after concerns about economic recovery in Europe continued to weigh on quotations. Economic data of recent days showed that the manufacturing sector and service sector in China have slowed their growth, which bodes less demand for energy inputs in the second largest consumer of oil in the world. The same situation occurred in the manufacturing sector of the U.S. and Europe. The price of U.S. light crude fell by 0.4 percent to 71.86 dollars a barrel in today’s times of electronic trading on the New York Stock Exchange. U.S. financial markets were closed Monday on the occasion of Independence Day. Oil futures with delivery in August fell by 81 cents or 1.1 percent, to 72.14 dollars per barrel by the end of Friday’s session. Last week energy raw materials fell 8.5 per cent because of worsening economic attitudes of investors. Since the beginning of this year its price has plummeted by 10 percent.
Brent oil is traded with a fall of 0.1 percent to 71.42 dollars a barrel, having earlier today dropped by 1%. Its price fell 0.3 percent to 71.47 dollars per barrel by the end of yesterday’s session on the London oil market.

Cruide oil price shaprly decreased

Viliyana Filipova — Fri, 02 Jul 2010 23:04:03 +0000

Euro recorded strong growth of over 2 percent against the U.S. dollar yesterday, gaining support from weak U.S. economic data and encouraging signals of financial stability in the euro area. This caused a significant drop in the price of oil and gold, which yesterday lost more than 3% of its value. The single currency has reached the level 1,25 EUR / USD, which is its highest value since June 21. The appreciation came after news of another problem in the U.S. housing market and because of data problems in the labor market and the slowing of production activity. Meanwhile, the ECB yesterday organized an auction for commercial banks’ lending, which was used quite a bit of financial institutions. This and the success of the bond issue in Spain, have strong support of the single currency. On the New York Stock Exchange yesterday, oil contracts with delivery in August dropped by 3.5 percent to 72.95 dollars a barrel. This is the lowest cost of raw material from 8 June onwards, and earlier this morning quotes remain at the same level. This means that travel week black gold has dropped by as much as 7.2 per cent, taking the greatest decrease in the week since May 7.
Yesterday in London, Brent crude oil from the supply in August lowered its price by 3.6 percent to 72.34 dollars a barrel. This morning oil of this variety increased its price by 0.25 percent to 72.51 dollars a barrel.

Crude oil went down to 75 USD per barel

Viliyana Filipova — Wed, 30 Jun 2010 11:01:33 +0000

The crude oil prices fall account for a third day because of weak data on consumer confidence in the U.S. and alarming signs of economic growth in China. The U.S. consumer confidence in June dropped heavily to the level of 52.9 points in June, after a month earlier was 62.7 points. This prompted a sharp drop in U.S. stock exchange yesterday, as predictions were for much more limited decrease in the index. On the New York Stock Exchange yesterday, oil contracts with delivery in August fell by 3 percent to 75.94 dollars a barrel. This is the largest decline in raw material from June 4 onwards. The night continued retreat of the quotes this morning and they were 0.4 percent lower at 75.66 dollars a barrel. Thus, the raw material is directed to the first quarterly drop in prices from late 2008 onwards. From late March till now, oil has dropped by 9.4 per cent. Yesterday in London, Brent crude oil from the supply in August fell 2.8 percent to 75.44 dollars a barrel.
This morning Brent lost a further 0.6 percent to 74.98 dollars a barrel.

Crude oil increase its price with 3% to about 79 USD

Viliyana Filipova — Fri, 25 Jun 2010 21:50:17 +0000

The crude oil price rose over 3% to near 79 dollars a barrel after the National Center for hurricanes in the United States estimated that 80% is likely forming tropical storm in the Atlantic to strike the Gulf this weekend. This will disrupt oil production in the bay and will make cleaning the oil spill caused by the explosion and sinking of the oil platform BP Deepwater Horizon. About 31%, or 1.69 million barrels of daily production of crude oil in the U.S. comes from platforms in the Gulf of Mexico. The strong rise in the price of energy and raw materials contributed depreciation of the dollar which retreated from almost all major currencies. Oil futures rose 3.1 percent, or 2.35 dollars to finish the trade in New York at the level of 78.86 dollars a barrel. This was the biggest daily rise since June 9 and the highest price level for last seven weeks. Euro more expensive by about half a percent against the dollar to 1.2387 dollars per euro. Fall of course the dollar and lowers oil price expressed in other currencies. This increased the Brenta to 1.86 dollars or 2.4 percent, to 78.33 dollars per barrel on the International Petroleum Exchange in London.
Oil is more expensive by 12% over the past 12 months.

Crude oil with first decrease after two weeks growth

Viliyana Filipova — Fri, 25 Jun 2010 11:28:01 +0000

The price of crude oil remains below 77 dollars per barrel, resulting in what is about to record the first week retreat for the last three weeks. The reason for uncertainly movement of quotations gives renewed fears of economic development. Yesterday the price of black gold stabilized after two days of decline, which contributed data on the growth of durable goods orders in the U.S. and the decline in initial unemployment in the country. The crude oil contracts with delivery in August rose 16 cents minimum to 76.51 dollars a barrel. This morning also lost raw materials 0.3 percent to 76.29 dollars per barrel, but the quotations are about to rise for the week of 0.6 per cent. On the London Stock Exchange this morning Brent with delivery in August lost 0.22 percent to 76.30 dollars a barrel. The price started increasing after the fiasco of the US Dollar last month and hard offence over the crude oil prices.
So this sort of oil is directed to a weekly loss of 2 per cent.

Crude oil price decreasing again

Viliyana Filipova — Wed, 23 Jun 2010 21:13:14 +0000

The session futures exchanges has brought a decline in the price of key raw materials. With reductions are reported oil, gold and silver, as it gave rise to mainly disappointing data on the U.S. housing market. Oil with delivery in August fell 1.9 percent to 76.35 dollars a barrel yesterday. To contribute to this reduced estimate of the Federal Reserve for the development of American economy, which was announced together with the decision of maintaining historically low interest rates in the country. This morning quotes lost another 5 cents to 72.30 dollars a barrel. Yesterday in London, Brent crude oil from the delivery in August lost 2.3 percent to 76.27 dollars a barrel earlier this morning, a raw material lost another 4 cents to 76.23 dollars a barrel. During the exchange session in New York yesterday was reporting a fall in gold price with delivery in August by 0.5 percent to 234.80 dollars an ounce. Depreciation of the metal came because the appreciation of the dollar before Fed decision, submit the Market Watch. Much more serious was the decline in the price of silver, which lost 44 cents, or 2.3 percent, to 18.45 dollars an ounce. According to analysts, the retreat of raw materials due to the sharp decline in sales of homes in the U.S.. The reason for it is the end of the government program to assist buyers, which obviously reduced the strong interest in purchasing a home.
At 8:30 local time today, the euro is moving with a growth of 0.13 percent versus the dollar as both currencies are exchanged at a rate of 1,2335 EUR / USD.

Crude oil is looking for direction due to negative Chinese policy

Viliyana Filipova — Tue, 22 Jun 2010 11:41:00 +0000

The crude oil routed traffic and was last night reported a decline of nearly a percentage. The main reason is shrinking optimism that the change in the exchange rate of China will help restore the global economy. During yesterday’s trading session in New York oil contract with delivery in July rose 0.8 percent to 77.82 dollar per barrel. At night, however raw material lost nearly a percent to 77.07 dollars a barrel. The deadline for July futures trading ends today, which makes the contracts with delivery in August, more actively traded. Tonight, they fell by 0,9 percent to 77.89 dollars per barrel. Downward movement in oil prices due to the limitation of optimism on stock markets. Moreover, the American bank Goldman Sachs released a new forecast of the development in the oil market, which is set at a lower price of raw material to previous expectations. The new bank is expected over the next three months to price reached 87 dollars per barrel, with whole 9.4 percent below the previous forecast of 94 dollars per barrel. Exchange in London yesterday by Brent oil with delivery in August rose 0.8 percent to 78.82 dollars a barrel.
This morning Brent traded around lower rate at 78.08 dollars a barrel.

Crude oil price continue to fall

Viliyana Filipova — Wed, 26 May 2010 06:27:52 +0000

The crude oil price continues to fall, but still stood near the level of 70 dollars per barrel. This is happening against a background of very sharp movements in the 3-4% upward and downward direction. During the exchange session in New York yesterday, the price of black gold fell 2.1 percent to 68.75 dollars, while during the session to losing more than 4 percent of its value. This morning, however, quotations with advancing 0.64 percent to 69.39 dollar after early night again were over the threshold of $ 70 a barrel. The main reason for the sharp drop in the price of black gold during yesterday’s trading session was a sharp setback for the euro against the dollar. This limited interest in investing in raw materials and pushed down their prices. The reason for the deletion of the losses in oil prices gave the report of the American Petroleum Institute gasoline stocks, which last week rose unexpectedly to 3.19 million bbl. This gave the effect of speculation that demand for fuel is increasing, supporting quotations.
Despite the temporary stabilization of this morning the price of oil moves with a decline of 20 per cent since May 3.