The prices for oil have fallen to a three-monthly minimum
the Prices for oil futures with the beginning of current week have sharply gone down. Following the results of the auctions on August, 4th the prices for oil have fallen for a day almost to 3 % and oil quotations have stopped on the lowest marks from the beginning of May of this year Thus for the first time for three months have fallen during the auctions below a mark 120 dollars/ barr.
growth of fears concerning reduction in demand for oil from the developed countries became the Principal cause of so considerable falling, and also the offer of American senator Barack Obama to allocate from a strategic oil reserve of the country of 70 million barr. Oil to bring down the high prices.
For oil contracts of the nearest postavochnogo month results of the auctions at stock exchanges have made on August, 4th: in New York on New York Mercantile Exchange (NYMEX) the official price of future Light, Sweet Crude Oil has lost (September) 3 dollars 69 cents (- 2,9 %) also it was established on a mark 121,41 dollars/ barr. (The lowest indicator since May, 5th) at the prices under transactions for session 119,50 - 126,35 dollars/ barr.; in London on InterContinental Exchange Futures Europe (IÑE Futures Europe) the official price of future IPE Brent Crude has fallen (September) to 3 dollars of 50 cents (- 2,8 %) and was established on a mark 120,68 dollars/ barr. (The lowest indicator since May, 6th) at the prices under transactions for session 118,80 - 125,30 dollars/ barr.
Falling of the prices for oil futures has been called by deepening of inflationary processes in economy of the USA, and, accordingly, preservation in the long term low demand for energy carriers. Under the official information of the Ministry of Trade of the USA, in June consumer incomes of Americans have grown on 0,1 % while experts predicted decrease in incomes on 0,2 %.
However consumer expenses of citizens of the USA in June have increased by 0,6 % that has exceeded the forecast and has strengthened inflationary fears. In the meantime management FRS the USA yet does not plan consideration of a question on increase of base discount rate on national currency. Most likely, in August rate FRS remains at existing level - 2 %.
Some pressure upon the oil market has rendered also the offer of American senator Barack Obama how the American economy to confront with the high prices for oil and energy carriers. The candidate for US presidents has suggested to allocate from a strategic oil reserve of the country of 70 million barr. Oil to bring down the high prices for oil products in the country.
the Prices for oil have essentially decreased on August, 4th, however the official prices for oil futures were established following the results of day considerably above the minimum quotations. In spite of the fact that the auctions were closed in a minus, in the market there were the factors which have kept the prices for oil from deeper falling.
Iran has once again refused to stop own nuclear workings out in exchange for the advanced technologies offered by the western countries. Now participants of the market expect retaliatory measures which can accept the USA and their allies concerning Teheran, from - for what at stock exchanges fears of possible infringement of deliveries of oil from region of Persian gulf were generated.
In a past week-end in Gulf of Mexico the tropical storm " was generated; Edward “. The elements move in a direction of Houston, and experts predict that by the end of day on August, 5th the storm becomes tropical hurricane. A storm “ Edward “ does not represent serious threat for oil derricks in Gulf of Mexico. Oil recovery on a shelf is saved while stable, however the oil companies are ready to carry out in case of need evacuation of the personnel from objects. At the same time the elements on reaching coast can break work of oil terminals around Houston and complicate oil deliveries on NPZ, many of which already work not in a total power.