Rus News Journal

Oil has chosen a direction on growth

the Prices for oil futures on Monday, on August, 13th, grow. As it was informed on Quote. ru, the prices for oil have decreased on Friday, on August, 10th, having reacted to the negative data from China and news that MEA has lowered forecasts of demand for oil. Following the results of the auctions on InterContinental Exchange in London the September contract on oil Brent has fallen in price on 0,27 dollars, having closed on a mark 112,95 dollars/ barr. On New York Mercantile Exchange the price of the future contract for oil of mark WTI with delivery in September has decreased on 0,49 dollars, to 92,87 dollars/ barr.

the Weak dollar favours to speculative purchases

Quotations of oil Brent on Monday at the auctions for the first time for three months have exceeded a price mark 115 dollars/ barr. The prices on oil Brent have reached values 115,11 dollars/ barr. It is the highest indicator after May, 4th 2012.

the Prices under oil futures as of 17:02 Moscow time (dollars/ barr.) :

IPE Brent Crude (September) - 112,63 (+1,37 %);
Light, Sweet Crude Oil (September) - 94,12 (+1,04 %).

Purchases of oil futures on Monday in many respects are promoted by conditions in the world currency market. The dollar from the beginning of day has considerably fallen in price against euro that has provided attractive conditions for speculative purchases of oil and other commodity actives the prices on which are established in currency of the USA. The index of dollar for six leading world currencies (ICE dollar index spot) has given below a mark 82,3 points, having gone down from the beginning of day on 0,3 %.

the Prices for oil futures Light Sweet and Brent are technically restored after profit fixing in the trading afternoon before (on August, 10th). Positive dynamics in the prices under oil futures also is caused by their technical purchases after reduction of short positions following the results of the previous auctions. Following the results of the auctions on August, 10th the price of oil Brent has gone down on 0,3 %, and the price of oil WTI (Light Sweet) has decreased on 0,5 %, having provided on Monday attractive conditions for opening of long positions.

oil in Tokyo has risen in price for 0,3 %

the Price of oil Middle East Crude on T to commodity exchange (OCOM) with reference to its most active contract on Monday essentially has not changed, having raised for a day less than on 0,3 %. Following the results of the auctions on August, 13th 2012. The official price of future Middle East Crude Oil with delivery in January has made 52,460 thousand yens/ kilolitre (about 106,52 dollars/ barr.), having added for day of 110 yens, or 0,2 %.

the Price of active future Middle East Crude Oil was established in bekvordatsii concerning the price spotovogo the contract. So, the official price of future Middle East Crude Oil for current calendar month has made 53,080 thousand yens/ kilolitre (about 107,78 dollars/ barr.) Having raised for a day for 10 yens, or on 0,02 %.

Oil Middle East Crude is a conditional mix from oil marks Dubai and Oman which is considered the price standard for region of the Near East. At stock exchange TOCOM futures Middle East Crude Oil bargain since September 2001. The contract is settlement, that is physical delivery of oil under the future is not provided. Closing of positions is carried out upon termination of calendar month with calculation of a variation margin. Average is accepted to a calculation basis for a month the price of oil mix Middle East Crude which defines agency Platts.

Weak fundamental indicators press on oil

On - former weak fundamental indicators and a difficult macroeconomic environment will continue to put pressure upon the prices upon oil, analysts Morgan Stanley believe (though currently in bank are less pessimistic concerning market prospects, than till now in 2012.) . One more splash in the European problems and pessimistic fundamental indicators have already started to promote reduction of prices. If manufacture in the OPEC remains at the current raised levels, oil stocks in III quarter will continue to grow. Though oil stocks in II quarter were in the countries OESR below normal levels, analysts Morgan Stanley notice that on a global scale the situation with stocks is less constructive.

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