Oil prices are trying to break up after a failed attempt to climb yesterday. Since the beginning of the current day prices for petroleum futures Brent and Light Sweet have risen by about 0,5%. Factors to the rise in oil prices has a long list, but the players of the oil market appears nowhere in no hurry to pending publication of the official report of the U.S. Department of Energy, which will be released tomorrow.
Oil prices have fallen by up to a volatile trading session after the report U.S. Department of Energy on oil and petroleum products in the country. Oil prices continue to fall tomorrow, experts say.
Dollar exchange rate affected the rise in oil prices. Oil prices have risen against the depreciation of U.S. dollar. Restoring growth in the U.S. stock market also played a positive role in the oil market.
Oil prices continued to recover, a bullish trend has swept commodity markets. Prices for petroleum futures Brent and Light Sweet today recovered after four days of declines. However, the price of oil since the beginning of the day so far has not significantly changed after the day before they fell to their three-week minimum. Analitki await further increase oil prices.
Oil prices fell today. Quotes of the oil market on Monday 28 June on the basis of bidding closed with a decrease in price in light of weakening demand for crude oil and refined products amid fears of a mature storm in the Gulf of Mexico. On the New York Stock Exchange New York Mercantile Exchange price of July futures for petroleum of mark Light Sweet fell by 0.61, or 0.8%, and its price was 78.25 dollars per barrel.
DJIA reached a record low. Trading on stock exchanges in Asia on Wednesday, June 30, will be demonstrating against falling of quotations on commodity prices, exchange rates, the outcome of trading in the U.S., fears for the future of China as well as data from the States.
June 16 came into force Act № 6337 “On amendments to some legislative acts (in terms of taxation), which provides for an increase in excise duty on petroleum products. Higher fiscal burden of oil traders are already embedded in retail prices, thereby shifting the problem onto the shoulders of consumers. In the short term fuel will continue to go up under the pressure of world trends.
Oil prices remain at the mercy of the bears. The level of support from the bulls is negligible. Prices for oil futures Middle East Crude Oil for Tokiyskoy Commodity Exchange (TOCOM) today dropped almost 1%. As a result of trades on June 23 TOCOM official price of the most active futures transaction (November) amounted to 44.270 (-0.410) thousand yen per kl (about 77.88 dollars per barrel.).
Oil prices remained stable today. The factor that prevents the oil price rise, is the threat of falling demand in the euro area. Quotes of the oil market on Monday 21 June on the basis of trades were closed with an increase in value against the release of positive news about the yuan from the central bank of China.
Now Dow Jones Industrial Average is at a maximum of 10,555.16 points. The level of growth was +104.52 points (1.00%) in the first half of trading. Forecast for Dow Jones remains unchanged: Today’s session at the major U.S. markets will gap up. Futures on stock indexes throughout the day showing an increase of more than 1% on positive news from China. Futures on the Dow rose by 1,16%, S & P 500 – by 1,35%, Nasdaq – by 1,2%.