Oil prices rebounded after a fall, but the bullish happiness was short-lived today

Oil prices behave unstable today

In brief: The ups and downs - the price of black gold again seek down. Released in the positive zone this morning, oil prices managed to collapse.

Oil prices continued mixed dynamics today. Friday’s collapse has been changed for the oil price climbing today. However, oil prices this afternoon, traded on the positive territory, fell again – down from the beginning of the day by 0,7%.

Remarkably began with morning, when the August futures for crude oil went up significantly compared with the previous trading day, was replaced by a gloomy afternoon. Quite a positive trend in prices for transactions in oil futures was halted because of the outbreak and to take profit, formed last week. So, as of Monday morning Futures WTI rose by 0,22%, namely $ 0.17 per barrel to $ 79.15 mark. While on Friday, the September futures for delivery of oil of mark WTI have fallen on 0,4%, having fallen to a mark of $ 78.98 per barrel. Brent futures today rose in price even more – by 0.37% ($ 0.29 per barrel) and kept at $ 77.74. It should be noted that occurred in Friday crash affected the results of stress tests of European banks, which showed that the seven banks, five of which are in Spain failed the test. This study was conducted to confirm the stability of the banking system and the EU was more positive than negative – in fact all in tests involved 91 bank.

At the moment the market situation is as follows: the prices of petroleum futures Brent and Light Sweet have declined since the beginning of the day by about 0,7%. By mid-day prices for transactions with oil futures Light, Sweet Crude Oil (September) amounted to $ 78.38 per barrel (-0.60) with a range of quotations 78,25-79,31. At the same time, the trend continued with futures at IPE Brent Crude (September) – $ 76.93 per barrel (-0.52) in the range of quotations 76,82-77,91. Concluding, it must be said that despite the ups and downs of the price of black gold, which took place a week showed positive dynamics – the oil on the markets in general, considerably more expensive. In total last week, the official price of WTI crude oil jumped 2.97 dollars / barrel., Or on 3,9%, and the barrel of Brent oil became more expensive for U.S. $ 2,08, or 2,8%, which led to today sale of oil futures.

Ukrainian Globalist
2010-07-26 13:51, Commodities.

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