Overview of the oil market for 30.07.09
Dynamics
Quotations in the oil market on Thursday, July 30, nearly played last fall at a rally in stock markets and enabling data to reduce the number of repeated requests for unemployment benefits in the United States for the past week.
At the New York Stock Exchange NYMEH cost of the September futures for U.S. light crude oil rose to 3.57 dollars and its price, therefore, amounted to 66.92 dollar per barrel.
At the ISE Stock Exchange in London mark Brent oil price rose to 69.81 dollars per barrel.
Causes
On Thursday 30 July, trading in the market of black gold began quietly enough. Published makrostatistika put pressure on the U.S. currency, and to resume a positive trend in the stock sites, thereby bringing the oil market to grow. Block quarterly reports, as well as an increase in the metals market has supported a rising momentum on oil.
news worth noting that the Norwegian company DNO International examines the work of the first month in the Iraqi oil field Tauke, put into service June 1st, 2009 the June average production is estimated at 22,840 barrels per day, 17,914 of which is exported . In accordance with the regional government of Kurdistan, production and exports will increase: in July, gross production will reach 40,000 barrels per day, of which exports expected to send about 32,000 barrels. Until June, the field trial was conducted in the production volumes of 1908 barrels /day in 1 st quarter and 5965 barrels per day in the 2 nd quarter. The sharp increase in production occurred after the authorization of the central government of Iraq, the transportation of oil deposits on the Iraqi national pipeline.
What to expect?
The rapid recovery in oil prices has prompted analysts to re-optimistic projections for the end of the year. In their view, mark Light Sweet crude oil will reach the value of 85 dollars per barrel by year's end, as negative factors that contributed to collapse, would be temporary.
What is fear?
rapid stabilization of quotations in the market of black gold will lead us to a long-standing issues of balancing supply and demand, which in recent times does not make up for the better. Also, fuel to the fire add the statement of the commodity futures trade in the U.S., which officially recognized that oil prices in the last year and swing speculative capital.
Hryvna strengthens
Return of deposits, with particular cynicism
Shares VTB have a strong driver for growth in the coming weeks - the definition of placing additional issue price
In the event that positive GDP data for the U.S. to begin the transfer of funds from the protected assets in shares of oil and metallurgical sectors
Now morning jump up completely reverse, and the decline continues: VTB Bank (-0.52%), Sberbank (-1.74%), Gazprom (-1.88%)
Recommendations on the stock market: LUKOIL, MMC Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
The chemical industry would cost without goskorporatsy
The growth of the stock market supported the message that the auction of seven gosobligatsy United States has been extremely successful
Asia: Indexes face down due to good reporting
