Oil prices rise sharply today

Oil prices continue to stabilize in the growth today

In brief: Oil futures Brent and Light Sweet traded significantly higher than the $ 75 per barrel. Oil prices will rise.

Bulls continue to increase trading volumes of oil. Oil prices are rising today. Oil futures Brent and Light Sweet traded significantly higher than the $ 75 per barrel. While remaining in the last few hours in the positive zone. At the time oil prices oil of futures transactions are ($ / bbl.): – Light, Sweet Crude Oil (July) – 75.85 (0.73) with a range of quotations 74,62-76,03; – IPE Brent Crude (July) – 76,19 (0.99) with a range of quotations 74,79-76,26.

Since trading began, oil prices rose on average by 1,2%, due to the lack of active technical selling oil futures, while maintaining a relatively stable position of the dollar on FOREX. Recall, the price of oil futures on the eve grew on average by 1,5%, having played for the fall of the previous trading day, but it does not appreciably changed. Meanwhile, the dollar in the FOREX in the early days has not significantly grown compared to the Euro and other currencies, as an indicator of the market FOREX, reflecting changes in U.S. dollar concerning “basket” of six leading world currencies, Dollar Index (spot) is not exceeded 78 points. It is also possible that support the oil futures today provides a relatively stable situation on the European stock exchanges, as well as expectations the forecast reserves of oil and petroleum products in the U.S.. We note at 0:30 Moscow time on June 16 their data on stocks of petroleum and petroleum products in the United States will publish the American Petroleum Institute.

Ukrainian Globalist
2010-06-15 11:28, Commodities.

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