Waiting for growth stocks in the United States revived sellers

Prices of oil futures on Wednesday, May 2, falling. World oil markets ended the trading session on Tuesday, May 1, in the “plus”, responding to the positive trend of business activity in the manufacturing sector of the U.S. and China. As a result of trades on the InterContinental Exchange in London, June Brent crude oil contract rose 19 cents to close at 119.66 dollars. / Bbl. On the New York Mercantile Exchange futures price for WTI crude oil for June delivery rose 1.29 dollars to 106.16 dollars. / Bbl.

data on stocks of petroleum products can support quotes

As of 16:13 Moscow time on Wednesday, oil futures prices were ($ . / bbl.):

IPE Brent Crude (June) – 118,87 (-0,37%)
Light, Sweet Crude Oil (June) – 106,17 (-0,30%)

Oil is cheaper on the stock exchanges because of the expected increase in U.S. commercial inventories of crude oil. On Wednesday at 18:30 GMT will be published in the official figures U.S. Department of Energy (DOE) on oil and petroleum products in the country. Meanwhile, according to preliminary data, the American Petroleum Institute (American Petroleum Institute, API), which was published on Wednesday at 0:30 GMT, commercial crude oil inventories in the United States on the basis of the balance sheet of the week that ended April 27 rose by 2.04 million barrel. API rating was slightly below the forecast of industry experts, who last night expected weekly increase in oil inventories in the U.S. at 2.4-2.5 million barrels.

negative dynamics in the prices of oil futures transactions is due to an additional situation in the international currency market Forex. Dollar since the beginning of the day has grown considerably against the euro and other currencies. The dollar index for the six major world currencies rose by almost 0.6% and now holds 79.2 points above the mark that is not conducive to active buying of oil and other commodity asset prices are set in U.S. currency. The dollar rose against a background of high-level data on unemployment in Germany (6.8%) and in the whole euro-zone countries (10.9%).

At the same time support the oil futures market can provide data on stocks of petroleum products in the United States. According to representatives of the API, gasoline inventories in the U.S. declined for the reporting period by 3.9 million barrels. And heavy distillate stocks fell by 4.2 million barrels. API data were “better” than the forecast of industry experts, who last night expected decline in gasoline inventories in the 1.0-1.1 million barrels. and reduction of heavy distillate stocks to 400-500 thousand barrels.

Oil in Tokyo has risen by 1%

price of oil in the Middle East Crude Tokiyskoy Commodity Exchange (TOCOM) for its most active contract Wednesday rose almost by 1%. Following the auction, 2 May 2012. official price of the futures Middle East Crude Oil for October delivery was 57.610 thousand yen / kl (about 114.23 dollars. / bbl.), up to 530 yen per day.

price of the active futures Middle East Crude Oil established in bekvordatsii spot on the price of the contract. Thus, the official price of the futures Middle East Crude Oil for the current calendar month was 58.850 thousand yen / kl (about 116.69 dollars. / Bbl.), Up to 360 per day yen, or 0.6%.

Oil Middle East Crude – a mixture of conventional oil makes Dubai and Oman, which is considered a benchmark for pricing Middle East region. On the Exchange TOCOM futures Middle East Crude Oil traded since September 2001. The contract is a settlement – that is, the physical delivery of oil futures is not available. Closing of positions by the end of each calendar month, with the calculation of variation margin. The basis of calculation adopted by the average monthly price of oil mixture Middle East Crude, which is determined by the agency Platts.

Political instability in oil prices will help

“We expect the average price for WTI crude oil this year at $ 116. / Bbl. And we believe that prices could rise above our forecasts, because the result of political events from the oil market takes up a large part of the proposal. It is not just about Iran, where oil production is reduced due to the imposition of sanctions, but also on Sudan, and Yemen ” – said an analyst at Macquarie Capital Bloomberg Jason Gammel.

Quote.rbc.ru using materials RBC News Service



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