Financial Communique » price

The crude oil price decreased

Viliyana Filipova — Fri, 10 Jun 2011 10:42:00 +0000

The crude oil price fell with 29 cents, or 0.3 percent, to 101.64 dollars a barrel in electronic trading in New York. Earlier contracts rose 0.2 percent to 102.15 dollars, near its highest level this month. The price of U.S. light oil added 1.4 percent this week and 35% for last year. With 8 cents, or 0.1 percent, to 119.65 dollars per barrel dropped the price of Brent crude oil for delivery in June, after earlier rose 0.4 percent. Earlier, the crude oil price rose close to its highest value during the month after the U.S. trade deficit unexpectedly fell and OPEC failed to agree on production quotas. U.S. trade deficit shrank after exports grew by 1.3 percent, driven by sales of fuels, petroleum products and computers, according to the Commerce Department. The report prompted economists at Morgan Stanley to raise its forecast for growth for the second quarter.

Crude oil finished the session over 103 USD per barrel

Viliyana Filipova — Tue, 10 May 2011 13:03:27 +0000

The crude oil futures ended Tuesday trading above 103 dollars in a second consecutive session of growth. While gasoline futures rose more than 3 percent amid concerns of potential business disruptions due to refinery flooding caused by the Mississippi River. The crude oil for June delivery rose 1.33 dollars or 1.3 percent, to 103.88 dollars a barrel on the stock exchange New York Mercantile Exchange. The price of gasoline for June delivery rose 10 cents, or 3.1 percent, to 3.38 dollars per gallon. For two sessions the price record growth of over 9%.
“The market is recovering from correction in the late last week and intraday volatility will remain high, ” said Jason Schenker, president of Prestige Economics LLC. Futures on gold and silver also registered increases Tuesday. The gold for June delivery rose 13.70 dollars, or 0.9 percent, to 1,516.90 dollars an ounce on the Comex platform of the New York Mercantile Exchange. The silver futures for delivery in July rose 1.37 dollars or 3.7 percent, to 38.47 dollars per ounce.

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 price of crude oil attacks 100 USD per barel again

Viliyana Filipova — Mon, 28 Feb 2011 10:30:24 +0000

The price of U.S. light crude again turned to attack the level of 100 dollars per barrel. The mainspring of the quotes at the start of trade in commodities this week again pressure in the Middle East and North Africa. The crude oil contracts for delivery in April, moving with a growth of 1.7 per cent Friday to 99.55 dollars per barrel. At an earlier stage quotes touched 99.96 dollars per barrel. Last week, the crude oil price jumped with 14 percent, marking its strongest weekly increase of 27 February 2009 onwards. The traded in London Brent oil does progressed 1.1 percent to 113.40 dollars per barrel. A little earlier Brent reached 114.50 dollars per barrel. In Libya the opponents of the regime of Muammar Kaddafi have taken control of a city located near Tripoli. The country has drawn up a provisional government, which has already announced that oil exports from the territory controlled by it will be under the supervision of the new government, writes Wall Street Journal. The region of the Middle East and North Africa remained unsettled and this weekend, with massive protests was in Oman and Tunisia.

Crude oil price may raise with 13%

Viliyana Filipova — Fri, 25 Feb 2011 13:07:49 +0000

The price of crude oil continues to rise in today’s electronic trading on commodity exchanges in New York and London under the influence of expectations that violence in Libya can stop or disrupt oil supplies from the third-largest producer in Africa. Within the last week the price of oil has raised a record pace for the last two, and noting their highest levels for the past two and a half years. Later today is expected the second statistical estimate of gross domestic product (GDP) of U.S. in the fourth quarter of last year. Forecasts of analysts suggest that the U.S. economy grew by 3.3 percent quarterly growth in initially announced by 3.2 per cent. Positive expectations for the data from the U.S. also supported the price of crude oil. Since the beginning of this week’s price of U.S. light crude was raised strongly by 13%. The analysts said the current high oil prices and food prices threaten the global economy recovers. The U.S. light crude for delivery in April rose by 0.5 percent to 97.72 dollars in today’s pre-trading on the New York Petroleum Exchange. The price yesterday jumped briefly above 103 dollars a barrel against the publications that two thirds of the production of crude oil in Libya was suspended due to the political crisis. Due to the rapid increases in oil countries and organizations with large oil reserves, the U.S., Saudi Arabia and the International Energy Agency (IEA), rushed to reassure markets that are able to compensate for any disruption in oil exports from Libya.
The Brent crude extracted in the North Sea, rising by 1% to 112.49 dollars in electronic trading in London today. The price yesterday was a bit to 119.79 dollars per barrel, before returning to 111.36 dollars per barrel. Brent has appreciated by 9.8 percent since the beginning of the week. Libya produced 1.6 million barrels of oil per day and the ninth-largest producer among the 12 states of the Organization of Petroleum Exporting Countries (OPEC). The country has the largest oil reserves in Africa, although Nigeria is the largest producer. Much of Libya’s oil exports go to countries in Europe.

The crude oil price increase still keep the European stocks on red

Viliyana Filipova — Thu, 24 Feb 2011 23:19:47 +0000

The European stocks fell for a fifth straight day because of ongoing violence in Lebanon, which sent oil prices to the highest level of 29 months. The pan-European Stoxx Europe 600 index slid 0.6 percent to 280.56 points to its lowest level for that month. The opponents of the regime of Muammar Gaddafi solidified its control over cities in the oil-rich eastern part of the country while he continues to hold Tripoli, using tanks to block roads. The crude oil for delivery in April hit 103.41 dollars – the highest intraday value of 29 September 2008, the New York Mercantile Exchange. The major national indexes fell on 12 of the 18 western European markets. Germany’s DAX slid 0.9 percent to 7 130.50 points, while Britain’s FTSE 100 and France’s CAC 40 fell less than 0.1%. The losses in European markets were offset in part after the initial report on applications for unemployment benefits in the U.S. fell more than expected last week. The shares of Porsche SE fell by 11% after the company announced that its merger with Volkswagen AG will probably be postponed. On the winning side became the third largest French bank – Credit Agricole SA, the loss for the quarter was less than expected thanks to the profits of the division of its investment banking.

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 crude oil jumped to over 92 USD

Viliyana Filipova — Mon, 03 Jan 2011 05:24:05 +0000

The price of U.S. light crude jumped above 92 dollars a barrel after data expansion of the factory sector in the U.S. and the eurozone in December, which came out yesterday. The quotes of oil for February delivery rose briefly with 1% to 92.58 dollars a barrel on the New York Petroleum Exchange on Monday. This is the highest price of energy raw materials by October 2008, writes Reuters. Regular session in New York ended with the oil price rises by 0.2 percent to 91.55 dollars per barrel. During today’s pre-trade price decreased by 0.1 percent to 91.42 dollars per barrel. The petroleum exchange in London Brent crude lost 0.1 percent to 94.77 dollars per barrel. Yesterday the price rose 9 cents to 94.84 dollars per barrel, the highest level since October 1st, 2008. For the jump in oil prices yesterday helped forecast low temperatures in the U.S. and Northern Europe over the next ten days. The oil prices increased by 15 percent last year. Meanwhile, gold prices set a new record, ending the first trading session of 2011 at 422.90 dollars an ounce. The price of the metal, which rose 30% last year, came on December 7 at its strong historical intra-day level since 1432, $ 50 an ounce.
The silver for March delivery, in turn, rose 0.6 percent yesterday to 31.125 dollar an ounce.

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.