Dynamics
Quotations in the oil market on Thursday 13 August showed a slight strengthening in prices due to growth in stock index sites, but also against the backdrop of the fall of the dollar against most currencies after disappointing data on the United States.
At the New York Stock Exchange NYMEH cost of the September futures for U.S. light crude oil rose by 0.36 dollars and its price, therefore, amounted to 70.52 dollar per barrel.
At the ISE Stock Exchange in London, the cost of oil brand Brent rose 0.59 to 73.48 dollars per barrel.
Causes
On Thursday, August 13, quotes in the market of black gold have increased in price, due to weakening of the United States dollar to a basket of world currencies against the backdrop of disappointing retail sales data reduction, in July in the United States and expected better economic performance in Europe. Stock sites showing moderate growth, against the backdrop of reports about the acquisition of hedge funds, John Paulson of bank assets and the good results of the financial report Wal-Mart Stores Inc., Were higher than analysts' forecasts, supported by quotations oil. Because news is a statement by Saudi Aramco noted that her office Southern Area Production Engineering Department in conjunction with the mining service has produced more than 400 wells for which came in June in the development of oil field supergigantskogo Hurays, including 232 maintenance, 119 for pumping water, and 58 monitoring and incentives. To download to use 12 million gallons of water. The oil field is expected to be about 1.2 million barrels per day. For the first time in Saudi Arabia in oil production will be used temperature sensors to monitor the working process of pumping and diversion of fluids from different deposits.
What to expect?
The main positive factor in the market of black gold continues to be a weakening of the dollar in the currency market FOREX. However, the last trading session showed that, at this place would like to locate and track the stock, the positive mood that positively affect the quotes of oil.
What is fear?
negative side for the black gold were published in this week's data on stocks of petroleum products in the United States, as well as the technical picture, which shows significant perekuplennost for many indicators. Also important to remember that today the end of trading week, and many participants the opportunity to commit a certain profit.
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