Financial Communique » Oil

First drop in crude oil price in last 3 days

Viliyana Filipova — Wed, 23 Mar 2011 08:53:04 +0000

The crude oil prices fell in the hours prior to today’s trading of oil exchanges in New York and London because of forecasts that oil demand in Japan may decline after the devastating earthquake and tsunami of March 11th. Japan is the third largest economy in the world and also is the third largest importer of energy raw materials, after the U.S. and China. The Japanese economy shrank last quarter of 2010, according to analysts, will begin to grow again in the second half of this year because of the serious consequences of natural disaster hit the country. The Japanese government decided to establish a special agency to monitor the recovery process, similar to the agency created for that purpose after World War II. The U.S. light crude for May delivery cheaper by 0.4 percent to 104.56 dollars per barrel in pre-trading on the New York Petroleum Exchange today. The April oil futures expired yesterday, ending the regular session with the jump in price to 104 dollars a barrel, its highest level in two weeks.
Harvested in the North Sea Brent crude also cheaper today, as its price fell by 0.3 percent to 115.40 dollars per barrel. Brent rose 0.6 percent yesterday to 115.70 dollars a barrel on expectations that the allied forces of NATO, led by the United States will commit new air attacks on Libya. Libya is one of the members of the Organization of Petroleum Exporting Countries and is the largest oil reserves in Africa, although it is the third largest manufacturing country in the continent. The U.S. light crude has appreciated by 24 percent since the protests against Libyan leader Muammar Gaddafi on 15 February.

The Brent Oil increased sharply again

Viliyana Filipova — Thu, 10 Mar 2011 10:01:42 +0000

The crude oil from the Brent type rose its price strongly yesterday, raising its price by over 2 per cent. The main reason is the escalation of tensions in Lebanon, prompted by the success of the loyal forces of Muammar Gaddafi. They have managed to regain control of several strategic cities. The Brent oil with delivery in April rose 2.3 percent by the end of yesterday’s regular session in London to 115.60 dollars per barrel. At the same time lightest crude oil traded on the stock exchange in New York fell 64 cents to 104.38 dollars per barrel. In today’s e-commerce Brent rose by another 0.2 percent to 116.20 dollars per barrel and U.S. light sweet crude rising by 0.4 percent to 104.79 dollars per barrel. The difference in the movement of both types of oil due to the geographical proximity of London and European companies to the troubled regions of North Africa and Middle East analysts. For appreciation of Brent oil yesterday and contribute news of bombing in Iraq, aimed at major oil pipeline to Turkey. Because of this incident submission of oil through the pipeline will be suspended for at least three days. In it usually subsides in about 400 thousand barrels per day. Loss of profits can reach millions of dollars.
The slight fall in U.S. crude oil due to the data on oil reserves in the country with 2.5 million dollars last week. This shows that demand for oil in the largest economy behind the background of increasing demand.

The crude oil price started the week with strong increase

Viliyana Filipova — Mon, 07 Mar 2011 08:21:31 +0000

The crude oil prices began the new week with a sharp rise, extending its rally from last week. This morning, black gold advanced by 1,7 per cent since the previous price jumped nearly 7 percent. Today the stock exchange in the U.S. lightest crude for delivery in April added 1.7 per cent (1.76 dollar) to 106.18 dollars per barrel. This is the highest price of the raw material from September 2008 until now, since the beginning of the year, oil has appreciated by 16 per cent targets. This appreciation has led the U.S. administration to consider opening the strategic petroleum reserve of the country to counter the sharp appreciation of her. For now, however this news has no impact on the market. The Stock Exchange of London Brent oil also more expensive, adding 1 percent to its price in the first hours of the new trading week. So quotations reached 117.14 dollars, which remains near the highest level this year – U.S. $ 119.79 zabarel registered on 24 February. The analysts quoted by the media, the main reason for the appreciation of the black gold is happening in Libya. African country in a normal atmosphere produces 1.6 million barrels per day, production has contracted by about 1 million barrels. Expectations are that amount to be offset by increased production in Saudi Arabia.
More disturbing than this, however, the news about riots in Libya, where government forces managed to regain possession of several cities over the weekend and where civil war is gaining strength.

First increase of the crude oil price in last 4 days

Viliyana Filipova — Wed, 16 Feb 2011 13:48:12 +0000

The price of U.S. light crude went up for the first time in four days yesterday published data on reduction of oil reserves the United States. The weekly report from the American Petroleum Institute showed that within the week to February 11 stocks of U.S. crude oil fell by 354 thousand barrels. The Barrel U.S. light crude for March delivery rising by 0.3 percent to 84.54 dollars in today’s pre-trading on the New York Petroleum Exchange. Yesterday the price fell 0.5 percent to 84.32 dollars per barrel, its lowest level since November 30th. The crude oil price has dropped by 8 percent this month because of near record high levels of stocks of raw material in the U.S. Price was raised by 10% over the past 12 months. The brent crude obtained from the North Sea, in turn, rising by 0.3 percent to 101.93 dollars a barrel on the London Petroleum Exchange. In yesterday’s regular session price fell 1.4 percent to 101.64 dollars per barrel. The price of copper, which reached new record highs earlier in the week, fell for a second day. Copper for delivery in three months fell 1.3 percent to 9,886 dollars per tonne, having jumped to a record 10,190 dollars per ton.

Price of brent oil passed 100 USD per barel

Viliyana Filipova — Tue, 01 Feb 2011 21:14:34 +0000

The strengthening civil protests in Egypt helped Brent oil to break for the first time since the October 2008 level of $ 100 a barrel during yesterday’s session on the London Petroleum Exchange. Analysts say the country’s political crisis may affect oil supplies from countries in the Middle East, exporting raw energy. Although the Suez Canal and oil pipelines connecting the Red Sea with the Mediterranean, still working, civic protests against Egyptian President Hosni Mubarak led to the cessation of activity in most sectors of the Egyptian economy. The Egyptian army said Monday it will not use force against citizens who are included in the protest for the removal of President Mubarak. Statement from the army became clear that “freedom of speech is guaranteed for all the demonstrators who used peaceful means.” This is the first explicit confirmation by the Egyptian army that will not open fire on demonstrators who have taken over the streets of Egypt last week to try to subvert President Mubarak to step down after 30-year rule. Local and foreign companies have suspended operations due to protests in Egypt, and many tourists headed to airports in an attempt to leave the country. While the conflict between protesters and Hosni Mubarak escalates, activists in Egypt are preparing for a large march of a million people today. Because of concerns about supply disruptions in oil prices of Brent, which is produced in the North Sea, gained nearly 2% to 101.73 dollars per barrel. In times of today’s e-commerce, however, its price dropped by 0.4 percent to 100.59 dollars a barrel, after speculators rushed to retrieve the profits from his strong appreciation over the past two sessions.
More will be greater by 3% lifted the price of U.S. light crude. Its the March futures traded against 92.19 dollars a barrel on Friday after their price rose by 4%. During today’s electronic trading price was lowered by 2 cents to 92.17 dollars per barrel. According to analysts of JPMorgan main risk of the crisis in Egypt that can act as a catalyst for unrest in other Arab countries, which otherwise appear to be stable, including Saudi Arabia, which is the biggest oil exporter in the world.

Crude oil may have the worst week till September

Viliyana Filipova — Fri, 19 Nov 2010 08:05:50 +0000

The crude oil prices remained almost unchanged during today’s e-commerce and is on track to finish the week with its largest loss in the last three months. Subside the concerns about the fiscal crisis in Ireland and the stability of the banking sector increased price of oil by 1.8 percent yesterday. The governor of the Bank of Ireland Patrick Honohan said yesterday that it expects the country to receive financial assistance from the European Union and International Monetary Fund, which enhance the rate of the euro against the dollar and make it more attractive investment in commodities that are traded in U.S. dollars. The good data on the factory sector and the index of leading indicators in the U.S. also reinforced the optimism of investors about the economy. The U.S. light crude for December delivery traded almost unchanged at a level of 81.76 dollars per barrel in today’s electronic trading on the New York Petroleum Exchange. Its price rose 1.41 dollars or 1.8 percent, to 81.85 dollars a barrel yesterday after falling during the previous four days. More actively traded oil futures for January delivery today more expensive by 44 cents to 82.86 dollars per barrel. The crude oil prices have jumped 3.7 percent this year, but earlier this week fell by 3.1 per cent. The reason for this was Ireland’s debt crisis and fears of monetary tightening in China, which is the largest user of energy resources in the world.
The petroleum Exchange of London Brent for January delivery rose 1.77 dollars or 2.1 percent, to 85.05 dollars a barrel yesterday. In today’s electronic trading price decreased by 0.2 percent to 84.91 dollars per barrel. The price of gold for immediate delivery, meanwhile, remained almost unchanged at a level of 1,352 dollars an ounce.

Monetary policy of China decreased crude oil price

Viliyana Filipova — Mon, 15 Nov 2010 11:45:22 +0000

The worries about the financial markets that China will continue to tighten monetary policy, which will cool the growth of Chinese economy and reduce demand for energy commodities in the country, the price of oil fell to its lowest level in two weeks. The crude oil prices fell heavily by 3% yesterday after Chinese Premier Wen Jiabao said the government develop measures to curb inflation in the second largest economy in the world, which is the largest user of energy resources. The prices of traded goods fell and fears of worsening debt crisis in the eurozone. Finance ministers from the European Union discussed in Brussels today’s debt crisis in Ireland, Portugal and Greece, as well as possibilities for a rescue package for banks in Ireland. The crude oil for cheaper despite the message of the American Petroleum Institute yesterday that reserves of U.S. crude oil fell last week to its fastest pace since September 2008 they fell by 7.7 million barrels, which was more than expected. Today and the weekly report released by the Ministry of Energy, U.S. oil reserves and demand for energy commodities last week which is more comprehensive because it covers all oil refineries in the country.
In the hours electronic trading on the New York Petroleum Exchange today, oil for December delivery traded with a fall of 0.3 percent to 82.11 dollars per barrel. The price of U.S. light crude fell 2.52 dollars, or 3 percent, to 82.34 dollars a barrel yesterday, which is the lowest price level since October 29th. The rate of the euro against the dollar fell heavily earlier this week and remains almost unchanged today because of the debt crisis in Ireland, which reduces the interest of investors in foreign currencies to the dollar traded commodities. The Brent for January delivery while losing 0.3 percent to 84.51 dollars per barrel. Its price fell 2.03 dollars yesterday, or 2.3 percent, to 84.73 dollars per barrel. Oil prices rose by 3.8 percent since the beginning of this year.

Crude oil will finish the week with decrease

Viliyana Filipova — Sat, 09 Oct 2010 11:42:37 +0000

The crude oil prices remained almost unchanged in today’s electronic commerce in global oil markets and is on track to finish the week with a fall despite the strong depreciation of the dollar. U.S. light crude for November delivery traded with a slight increase from 0.1 percent to 81.74 dollars a barrel today. Yesterday the price fell heavily to 1.56 dollars or 1.9 percent, to 81.67 dollars per barrel. The decline is greatest from 16 September onwards. Since the beginning of this week’s energy input is dropped by 0.5 percent and 2.3 percent since the beginning of this year, according to data compiled by Bloomberg. In an environment its price rose to their highest levels for the past five months, but then retreated because of disappointing data on employment in the private sector of the U.S. economy. Later today, leaving the status of key U.S. economic data on unemployment and employment in the agricultural sectors in September. Analysts said the U.S. unemployment rose to 9.7 percent from 9.6 percent in August. The number of jobs in non-agricultural sectors did is expected to remain almost unchanged. Brent crude rising by 0.2 percent to 83.57 dollars a barrel in electronic trading today. Yesterday the price dropped by 1.63 dollars or 1.9 percent, to 83.43 dollars per barrel. Gold for immediate delivery while trading near yesterday’s levels at 334.10 dollars an ounce.
Yesterday the price rose to a record 364.77 dollars an ounce, but by the beginning of the week it rose by 1.1 percent while the dollar fell 1.1 percent against a basket of six major currencies.

Crude oil reached new top prices

Viliyana Filipova — Wed, 04 Aug 2010 11:11:48 +0000

The crude Oil reached a new quarterly peak during yesterday’s trading session, then retreated positions. The reason for the retreat was the appreciation of the dollar, which sank to its lowest level against the euro since the beginning of May so far. Within the exchange session in New York oil price with delivery in September rose 1.5 percent to 82.55 dollars a barrel. This is the highest price of the raw material since 4 May. At night, however, took oil down, which is its first retreat for the last five days. By reason analysts indicate negative sentiment in the Asian trading session, and expectations of weak U.S. economic data later today. Among the data to be published today, are the indexes of industrial orders and consumer spending and expected sales figures for housing. Expected sequence of data to show that recovery of the largest in the world economy remains stuck. This will cause a retreat in oil prices, which traded this morning with a decline of 0.5 percent to 82.12 dollars a barrel. Exchange in London yesterday the price of Brent crude oil jumped 2.3 percent to 82.68 dollars a barrel.
This morning Brent barrel traded with a decline of 0.4 percent to 82.34 dollars a barrel.

Crude oil price with strong growth to 80 USD per barrel

Viliyana Filipova — Tue, 03 Aug 2010 10:09:07 +0000

The Crude Oil price noted strong growth jumped over 80 dollars a barrel, reaching its highest value since May. With a major contribution to this optimism, which is observed on stock exchanges and appreciation of the euro against the dollar. Quotations turned away more than 3 per cent yesterday and exchange session in New York closed at 81.40 dollars a barrel. Thus black gold delete your loss this year and is now moving with growth of 2.6 per cent from 1 January onwards. During the night oil contracts with delivery in September rose by another 0.14 percent to 81.45 dollars a barrel. Reason for optimism and buying oil gives rise to the stock indexes in the U.S. and Asia. Yesterday, the broad U.S. index, S & P 500 rose 2.2 per cent, and today splashed a wave transmit and Asian markets. Quotations provide support and appreciation of the euro, which reached a peak of three against the dollar yesterday. Today the two currencies traded at a rate of 1,3151 EUR / USD. Exchange in London yesterday of Brent oil rose 3.4 percent to 80.82 dollars a barrel.
This morning Brent is quoted at 80.88 dollars a barrel, up 0.07 per cent yesterday.