Quotes of the oil market Tuesday, September 29 during the bidding closed c a slight decrease in price due to countervailing trades against the U.S. dollar in the foreign exchange market, FOREX, and also against the backdrop of a weak negative dynamics of the stock sites and adjacent markets.
At the New York Stock Exchange NYMEH cost of the November futures for U.S. light crude fell by 0.13, and its price, therefore, amounted to 66.71 dollar per barrel.
The exchange ICE in London, Brent crude futures price fell 0.05 to 65.49 dollars per barrel.
Causes
Tuesday, September 29 quotes on the market of black gold have shown a slight decrease in price due to countervailing trades against the U.S. dollar in the foreign exchange market, FOREX, and also against the backdrop of a weak negative dynamics of the stock sites, triggered by disappointing data on Consumer Confidence Index, and adjacent markets, namely, the precious metals market, where there was a slight drop in prices. American Petroleum Institute reported Tuesday on the growth of oil reserves in the last week of 2.8 million barrels, gasoline inventories lower by 1,7 million barrels and distillate stocks increased by 2,3 million barrels. Load factor refining capacity, according to the institute, was 83,6%.
From the news it should be noted that Kazakhstan and Azerbaijan are considering building a new pipeline that would deliver oil from Kazakhstan to the Black Sea via Azerbaijan and Georgia. Kazakhstan, the largest oil producing in Central Asia, now exports the lion's share of energy resources via Russia, small volumes are delivered into the pipeline Baku - Tbilisi - Ceyhan oil pipeline, as well as in neighboring China. Since 2012 the country intends to begin large-scale production at one of the world's largest Kashagan and power is always referred to diversify export routes for its priority.
What to expect?
The main event of today's trading session is out of data on stocks of petroleum and petroleum products from the U.S. Department of Energy. Market participants expect the reduction of petroleum reserves, but at the same time, growth stocks of gasoline and distillates. Among distillates include heating oil and diesel fuel.
Why worry?
According to some analysts, it is expected that with the restoration of the economy recovers and demand for oil and petroleum products, but not in the current season of the year, when demand has decreased. Real impetus for growth in the oil market is not observed.
Overview of the oil market for 29.09.09
Dynamics
Quotes of the oil market Tuesday, September 29 during the bidding closed c a slight decrease in price due to countervailing trades against the U.S. dollar in the foreign exchange market, FOREX, and also against the backdrop of a weak negative dynamics of the stock sites and adjacent markets.
At the New York Stock Exchange NYMEH cost of the November futures for U.S. light crude fell by 0.13, and its price, therefore, amounted to 66.71 dollar per barrel.
The exchange ICE in London, Brent crude futures price fell 0.05 to 65.49 dollars per barrel.
Causes
Tuesday, September 29 quotes on the market of black gold have shown a slight decrease in price due to countervailing trades against the U.S. dollar in the foreign exchange market, FOREX, and also against the backdrop of a weak negative dynamics of the stock sites, triggered by disappointing data on Consumer Confidence Index, and adjacent markets, namely, the precious metals market, where there was a slight drop in prices. American Petroleum Institute reported Tuesday on the growth of oil reserves in the last week of 2.8 million barrels, gasoline inventories lower by 1,7 million barrels and distillate stocks increased by 2,3 million barrels. Load factor refining capacity, according to the institute, was 83,6%.
From the news it should be noted that Kazakhstan and Azerbaijan are considering building a new pipeline that would deliver oil from Kazakhstan to the Black Sea via Azerbaijan and Georgia. Kazakhstan, the largest oil producing in Central Asia, now exports the lion's share of energy resources via Russia, small volumes are delivered into the pipeline Baku - Tbilisi - Ceyhan oil pipeline, as well as in neighboring China. Since 2012 the country intends to begin large-scale production at one of the world's largest Kashagan and power is always referred to diversify export routes for its priority.
What to expect?
The main event of today's trading session is out of data on stocks of petroleum and petroleum products from the U.S. Department of Energy. Market participants expect the reduction of petroleum reserves, but at the same time, growth stocks of gasoline and distillates. Among distillates include heating oil and diesel fuel.
Why worry?
According to some analysts, it is expected that with the restoration of the economy recovers and demand for oil and petroleum products, but not in the current season of the year, when demand has decreased. Real impetus for growth in the oil market is not observed.
Indices in the U.S. fell on Tuesday on the rallies of technology and oil companies
Index of the Frankfurt Stock Exchange Xetra DAX rose 7.36 points, the index of the London Stock Exchange FTSE 100 rose 6.75 points
Shares peak soared more than 10% after reports that an agreement on restructuring its loan portfolio from the Sberbank
Look at the market from the long-term investors are fairly positive, and the money to purchase a
Severstal: Vorkuta asset of the company should break even level of work in 1 quarter 2010
Overlooking statistics do not give an unambiguous picture of the state of affairs in the world economy
Financial Services Commission will expose evaluation
Ukraine's GDP in the II quarter. 2009 declined by 17,8%
The stock market jumped up and hovered