All About Commodity

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OPEC Signal Stable Output , Oil Released From High Level

 

Wednesday, May 29, 2013

 

Crude oil prices fell ahead of data expected to show a decrease in the supply of gasoline in As as delegate OPEC in Vienna indicated that OPEC will not change output targets at a meeting this week. Oil fell as much as 0.9% after it had struck the increase for the first time in a week in the last session as U.S. consumer confidence rose to its highest level in 5 years. Organization of Petroleum Exporting Countries will keep output limit at 30 million barrels per day at a meeting May 31 in Vienna later on, said the two delegations that have not been identified because the decision is not yet final. Report from the Energy Information Administration tomorrow is expected to show gasoline supplies declined by 650,000 barrels last week.

 

"OPEC will not be a surprise, as the main producers seem quite satisfied with the status quo," said Carsten Fritsch, analyst at Commerzbank AG in Frankfurt. "Regarding reports of supply, changes in the supply of gasoline will be the focus of the market as the U.S. enters the peak summer driving season, he said.

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OPEC delegates: Not Enough Reason To Change Output Limits

 

Thursday, May 30, 2013

 

Organization of Petroleum Exporting Countries is likely to maintain oil output limits unchanged in Friday's meeting tomorrow, given the surplus of oil production is still lower than last year and the middle of the oil price at a level which is 'convenient' for all members, according to one OPEC delegates on Thursday.

 

OPEC oil production last month carrying 500,000 barrels per day higher than the official limit of 30 million barrels per day. But the excess output is still much lower than last year, where in May 2012 the oil cartel's excess oil production record of 1.58 million barrels per day.

 

"Excess is not adequate to be the reason for the decline of our production limits. Meeting tomorrow likely will not result in a change in oil output limits," the delegation said. "The balance between supply and demand is still relatively intact. We also still have a good market and the demand is likely to increase in the coming quarters."

 

World oil prices will likely still lingered around $ 100 a barrel this year, the delegation added.

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Oil Facing Weekly Decline

 

Friday, May 31, 2013

 

Oil back facing weekly decline, after the previous two-week declining streak. U.S. oil inventory data released yesterday rose to its highest level, which has never happened for more than 80 years. Declined to data released by the EIA, U.S. crude inventories rose 3 million barrels to 397.6 million barrels, the highest level since 1931, far surpassed predictions expect a decline of 500,000 barrels. Surge in supply is likely to lower the price of oil this weekend.

 

Overall the price of oil has dropped 0.8% this month, the previous month fell 3.9% oil. Oil was little changed after yesterday rose 0.5%. Oil for July delivery traded down 20 cents to $ 93.41 per barrel.

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Oil prices vanish By China's data

 

Monday, June 3, 2013

 

Crude oil prices crash on the first day of trading this June (Monday, 3/6) and falls to a low level since 2 May, which was recorded in electronic trading in Asia.

 

Oil prices fell to near $ 91.24 per barrel after finally stabilized at the $ 91.87 area. Decline in oil prices is mainly due to investors anticipating negative weak China's manufacturing activity data which contracted sharply for the first time in seven months that causes to slumping domestic and foreign demand.

 

China is the world's top oil consumer, so the decline of the manufacturing sector in the country's bamboo curtain will add to concerns about China's economic slowdown and will automatically decrease the demand for the energy sector. In addition, organizational decision petroleum exporting countries (OPEC) to world production quotas, also menegecewakan on world oil consumers.

 

Results last meeting on Friday (31/5), OPEC again maintain crude oil production ceiling of 30 million barrels per day. Decision was considered a disappointment because the expectations of the market so expect OPEC to cut production quotas to boost the price of oil on the market. And these policies have a direct impact on the decline of crude oil prices.

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Profit Taking action Paint Oil Market

 

Tuesday, June 4, 2013

 

Crude oil prices fell on the London trading session on Tuesday as investor profit taking after Monday's gains. "Why is the price of crude oil amid tensions appear in the middle of the Middle East?" Tanya PVM on Tuesday. "We think that sentiment is changing because of the oil major storm."

 

PVM said bearish sentiment comes as the government developed countries are attempting to reduce the intensity of oil use. At the same time, the growth rate of oil demand from emerging economies stagnate. In the U.S., crude oil stocks to depress prices. Credit Suisse on Tuesday said hair "Supply of crude oil seems very much."

 

Investors will focus ranging from the American Petroleum Institute survey for oil supply instructions. They will also be awaiting the latest U.S. non-farm payrolls on Friday, because the data will provide clues whether the Federal Reserve will keep stimulus policies.

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Oil slumped As estimated Gasoline's Stock Rising

 

Wednesday, June 5, 2013

 

WTI oil fell on forecasts that U.S. fuel inventories increased and also as a stronger dollar against most major currencies.

 

Oil prices fell by about 1.1% as petrol and diesel inventories likely rose last week, according to a Bloomberg survey before the release of a report from the Energy Information Administration on Wednesday. The dollar index rebounded after a big decline since January.

 

"The fundamentals are still very weak with the increasing supply of products," said Chris Barber, a senior analyst at Energy Security Analysis Inc.di Massachusetts. "Investors expect there will be the same type of weak fundamentals report tomorrow. The dollar also helped weigh on oil market. "

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Solid, Crude Oil Watch for ECB Decision

 

Thursday, June 6, 2013

 

U.S. crude oil futures today rose in the middle of a small decline in the exchange value of the dollar. However, further increases maneuverability is limited by the action of investors waiting ahead of a meeting of the European Central Bank (ECB) and the release of U.S. employment data.

 

Crude oil for July delivery rose to $ 93.87 per barrel in the Asian session. Market participants await ECB economic projections as well as Mario Draghi's comments related to the economic conditions in the region. Ahead of the European agenda, dollar exchange rate weakened against its rivals so that the value of USD-based commodity prices more affordable for investors.

 

EIA report did show that the volume of inventories fell by 6.3 million barrels, but the movement is not good S & P500 index dampen prices. Market players assume that the central bank may at any time withdraw monetary stimulus as the recovery is continuing climate. Therefore, commodity markets this week is more influenced by the dynamics of the European and American policy. Any signal that indicates the reduction of economic stimulus will impact on the price and vice versa.

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Oil Steady Ahead of Payrolls Release

 

Friday, June 7, 2013

 

Observed stable oil futures contracts on the electronic trading session on Friday (07/06). Market participants refrain ahead of the release of employment data, which is believed to have an impact on the continuity of the central bank's monetary stimulus.

 

Oil contract for July delivery was recorded at the level of $ 94.80 per barrel, slightly up from Thursday's level. Stalled shortly after oil prices rise 1.1% in the last few days. Thin reinforcement occurs in the middle of the weakening dollar, where the USD index fell from 81 531 to 81 413. Dollar exchange rate tends to decline in commodity prices since the value is more affordable for holders of non-dollar funds.

 

If the data is non-farm payrolls later is better than the prediction it is believed to improve the outlook for demand in the future. Oil prices could benefit by accelerating economic indications from the labor sector. However, if the data surge is too excessive, the economy recovered and the central bank is assumed to potentially halt its monetary stimulus. During the oil market and the stock benefited from the Federal Reserve's monetary easing.

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Oil traded Near 2-Week High Level

 

Monday, June 10, 2013

 

WTI oil traded near the highest price in more than two weeks on speculation that demand will increase in the U.S., the world's largest oil consumer. And also the threat of Sudan that would stop the exportation of South Sudan's oil.

 

WTI oil just a little fruit in New York. Sudan says it will halt exports of South Sudan within 60 days unless the neighboring country end its support for the rebels. Japan's economy grew more than earlier government forecast in the first quarter. China's oil imports rose to the highest level in more than four months in May, although the government reported that the trade and industrial production indicate an economic slowdown.

 

"The recovery of oil prices, initially led by a seasonal increase in demand for oil," said Thuna Saltvedt, an analyst at Nordea Bank AG in Oslo. Global economic growth "will increase until the start of the second half of 2014, led by the U.S., China and Japan, which will support the growing demand for oil."

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Oil Down Along estimated U.S. Oil Stock Up

 

Tuesday, June 11, 2013

 

WTI oil fell for a second day before the release of his report forecast to show that crude oil inventories rose last week in the U.S., the world's largest oil consumer.

 

Oil slipped as much as 0.5% in New York. U.S. oil inventories probably rose as much as 550,000 barrels to 391.8 million barrels last week and gasoline inventories United States is expected to rise by 500,000 barrels to 219.3 million barrels, according to a Bloomberg News survey before tomorrow's release of the official report from the Energy Information Administration agency. OPEC will release monthly estimates on the supply and demand today.

 

"The fundamentals still tend towards excess supply, although there is some negative sentiment in the market," said Michael Poulsen, seoran analyst at Global Risk Management in Middlefart, Denmark.

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Prune IEA estimates China's Oil Imports

 

Wednesday, June 12, 2013

 

China will use a little less oil than previously expected this year, even though demand is up about 3.8%, institutions International Energy Agency (IEA) estimate on Wednesday.

 

This is important news for the world oil market, since China is the second largest oil consumer in the world, which could affect global oil prices as its dependence on imports in large quantities. In January, the Chinese government said that about 56% of oil use in the country are imported.

 

China will need an additional 365,000 barrels of crude oil per day in 2013, rose as much as 3.8%, the average forecast is less than 15,000 barrels per day from last month's forecast, the IEA said in its latest report on the oil market.

 

This prediction follows a decline of institutions Energy Intelligence Agency (EIA), the U.S. on Tuesday, which cut its outlook for China's oil demand growth of 420,000 barrels per day, up 4.1% instead of the forecast last month by 4.4%.

 

"The decline recently relatively quiet on China's economic indicators have been supporting our long-term view that China's oil demand growth has changed the speed," said the Paris-based IEA, they noted that in April, the IMF cut its forecast agency of China's economic growth in in 2013 to 7.75% from 8%.

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Oil Prices Depressed Ahead of U.S. Economic Data

 

Thursday, June 13, 2013

 

Crude oil prices traded lower on Thursday, ahead of the release of data on consumer activity and the labor market in the U.S., which can give you an idea of ​​the energy demand. Decline in oil prices comes amid weakening U.S. dollar, which normally helps commodity prices denominated in U.S. currency.

 

With investors continue to focus on high levels of U.S. oil inventories and weak demand for energy, the U.S. retail sales data in May as well as weekly U.S. jobless claims to be very important. Any signs of improvement in the economy has the potential to bring a boost to the price of crude oil.

 

The oil market gets bearish pressure continued throughout the week. Recent reports Energy Information Administration (EIA) showed U.S. crude inventories rose 2.5 million barrels to 393.8 million barrels during the week ended on June 7. While the International Energy Agency (IEA) estimates that China's consumption of crude oil, the largest oil consumer the 2nd world, will decline this year.

 

Currently crude oil for July delivery contract offered in the range of $ 95.60 or 0.35% below the closing price yesterday.

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Oil Gains Two Days streak

 

Friday, June 14, 2013

 

Oil rose for a second day, is at its highest level in three weeks, as U.S. retail sales increased, and fewer unemployment claims in the U.S.. Improve recovery optimism largest economy in the world. Oil for July delivery rose 91 cents, or 0.9%, to $ 96.79 per barrel.

 

U.S. jobless claims lower than the estimate of 354,000 provisional data released by 334,000, the lowest level since Sept. 21. Retail sales rose 0.6%, being the highest gain in the last three months.

 

While the EIA reported gasoline demand rose 0.9% to 8.8 million barrels per day in the four weeks ending June 7.

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Oil Rally Supporting the Syrian conflict

 

Monday, June 17, 2013

 

Crude oil prices pushed up to a 9-month highs earlier this week, following concerns over the potential spread of the outbreak of the conflict in Syria to other countries in the Middle East region.

 

Currently Crude oil for July delivery traded at around $ 98.15 per barrel, or about 0.15% above the closing price on Friday, after touching its highest price since Sept. 9 last year at $ 98.71 per barrel.

 

"The movement of oil prices again influenced by the geopolitical aspects," said analysts at Commerzbank in a note. "The U.S. decision to supply arms to rebels in Syria has threatened to change the civil war in Syria into a proxy war between the forces of the world, given that Russia still continues to provide military support to the al-Assad regime."

 

Although Syria is not a major producer of crude oil, its proximity to several major exporting countries has sparked fears of a spread of violence to oil-rich countries.

 

Russia alone on a Friday have criticized the U.S. decision to arm the rebels. While U.S. President Barack Obama reportedly will conduct a special discussion on Syria with Russian President Vladimir Putin during the G8 summit that took place on Monday and Tuesday in Northern Ireland.

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Oil prices Rise in ahead of Inventory Data

 

Tuesday, June 18, 2013

 

U.S. crude futures rose on Tuesday ahead of weekly inventory data is expected to record a decline. Crude for July rose 0.3% to $ 98.01 / barrel.

 

Crude oil prices on Monday turned down 8sen, which seems to be triggered Financial Times reports that Federal Reserve Chairman Ben Bernanke said they had planned to close the program changing monthly purchase of securities worth $ 85 billon per month they are. Bernanke is scheduled to hold a press conference on Thursday at 1:00 pm after announcing the results 2 day policy meeting that will begin today.

 

Also the data for the project tonight reserves decreased U.S. stockpiles of crude oil by 1 million barrels for last week. This decline was supported by the reduction in crude oil imports, which has been moving up and down lately.

 

American Petroleum Institute (API) will report data at 3:30 am tomorrow morning. More data is considered important from the Energy Information Administration (EIA) will be released at 9:30 pm tomorrow. API and EIA reports from last week after the price of weakening support both institutions reported an increase in inventories, though it was diekspektasikan weakened.

 

Syrian state is currently the focus by investors enegry sector, with the United states at the end of last week would increase support for the opposition parties in the Syrian civil war. This news boost U.S. crude oil prices by 1.2%.

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Oil Look forward EIA data and Bernanke Speech

 

Wednesday, June 19, 2013

 

Crude oil prices observed in a narrow range ahead of the data release and announcement hasilpertemuan peresediaan U.S. central bank. Oil contract in July at a level of $ 98.61, up about 17 cents compared to the previous closing level.

 

Oil level was down slightly to $ 98.40 a while ago and then rose slowly. The contract had climbed on Tuesday (U.S.) after the American Petroleum Institute (API) reported a decline in supply as much as 4.3 million barrels for the week ended June 14. The amount is higher than analyst estimates that only 1 million barrels.

 

According to Citi Futures, API data successfully make a stronger oil prices thanks to a combination of decline in imports and increase domestic processed. To this day, the focus of investor attention focused on the release of data on the Energy Information Administration (EIA) and Ben S speech, Bernanke tonight. If the central bank kept its monetary stimulus, then the price of oil will rise because it is supported by the optimism of stretching and manufacturing businesses. Policies aimed at easing the economic acceleration will automatically increase the volume of demand in the future. In addition, the decline in the exchange rate as the stimulus also will make the price of commodity products (denominated in USD) so it is cheaper for non-US investors.

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EIA: U.S. Crude Oil Inventories Increase of 300,000 Barrels

 

Thursday, June 20, 2013

 

U.S. crude oil inventories posted a modest gain during the week ending on June 14, according to data released by the U.S. Energy Information Administration on Wednesday.

 

U.S. crude oil inventories rose by 300,000 barrels to 394.1 million barrels, is still lower than expected increase of 500,000. Gasoline stocks increased by 200,000 barrels to 221.7 million barrels. While inventories of distillate fuel, which include diesel and lubricating oil, fell by 500,000 barrels to 121.6 million barrels.

 

Oil market participants seem to respond negatively to the EIA report. Although only posted a modest gain, any significant increase in the numbers will keep U.S. crude oil inventories near record highs. The abundance of inventory in a slowing demand for fuel due to depressed consumer spending and sequester the U.S. by a higher income tax returns potentially negative pressure on the price of 'black gold'.

 

Currently crude oil for July delivery contract offered in the range of $ 98.50 per barrel, or about 0.05% below the closing price yesterday, after touching its highest level in 9-month $ 99.18 per barrel.

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Russia Signs Agreement With China's New Oil Trade

 

Friday, June 21, 2013

 

Russian state oil company, OAO Rosneft, has signed a new oil trading agreement with the Chinese government. In a deal worth $ 270 billion, the Rosneft obliged to supply around 365 million tonnes of oil over the next 25 years. Russia previously recorded has been supplying China with 15 million tons of oil per year.

 

In St. Petersburg International Economic Forum which took place on Friday, Rosneft also agreed to cooperate with PKN Orlen SA, Poland's largest oil refiner, to distribute crude oil through the Druzhba pipeline to the Czech Republic. With a contract worth more than $ 7 billion, about 8 million tons of crude oil is expected to be channeled through the pipe until June 30, 2016.

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The strong dollar weakens Oil

 

Friday, June 21, 2013

 

Crude oil fell as the dollar recorded its best weekly performance in nearly a year after the Federal Reserve said it would likely reduce its bond-purchase program this year, and will likely end up in the middle of next year. The dollar index against major currencies rose 0.7% to 82,524, the highest level since June 6. Strong dollar reduces the appeal of oil as an alternative investment.

 

The poor Chinese data released on Thursday also cause weakening of oil, since China is the second-largest oil consumer after the U.S.. Number of U.S. oil supplies rose 313,000 barrels to 394.1 million barrels of oil adds to bad performance this week. "Oil susceptible to further weakness due peningkatanm oil supply, particularly in the U.S." said Tim Evans, energy analyst. Oil for August delivery fell $ 1.45 or 1.5% to $ 93.69 per barrel.

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On Strengthening Dollar Weakens Oil, Data Weakens

 

Monday, June 24, 2013

 

Oil futures retreated further on the trading day eelektronik Arts, emnambahkan further repetition in the last week, as the increase in the dollar and bearish fundamentals gives blow straight on crude oil.

 

Crude for August fell 0.5% to $ 93.24 per barrel in the Asian session, after falling 1.5% on Friday, after the current contract fell 2.9% in NYMEX platform Thursday night. The weakening of crude oil has recently occurred in the midst of a stronger dollar, which continues on Monday.

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World Oil Demand Outlook Worries

 

Monday, June 24, 2013

 

Oil down in Asian session after a continued strengthening of the U.S. dollar and the widespread concerns over China made ​​investors worried about the outlook for world energy demand. The dollar rose on expectations the Federal Reserve could reduce monetary stimulus in the near future. If the Fed reduces the stimulus then this can reduce global liquidity so it can also reduce the demand for commodities.

 

Investors are also worried by the continued slowdown in the Chinese economy, one of the world's top oil consumer. Investors are worried about the effect of reduced liquidity in the market is still high kuangan China post Shanghai interbank interest rates. Shanghai interbank rate hike tenured 7 days to reach 25% to investors worried that the rising cost of bank funding and the business world that can also slow down economic activity. Nymex oil is now trading $ 93.41; away from daily highs $ 93.84

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WTI Strengthens Amid Approximate Data Supply

 

Tuesday, June 25, 2013

 

WTI oil rose for a second day amid forecasts that crude oil inventories in the U.S. will be reduced in the last week, the country which is the largest oil consumer in the world.

 

Oil futures rose as much as 0.6% in New York. U.S. oil inventories likely shrink by about 2 million barrels last week as rising oil refinery operations, is shown in a Bloomberg News survey before the government formally report tomorrow. World oil consumption will rise in the second half of this year as the economy continues to recover, said Goldman Sachs Group Inc. today.

 

WTI oil "continues to benefit from a more positive view of the U.S. economy, and most importantly, the movement of an oil refinery in the summer goes well," said Andrey Kryuchenkov, an analyst at VTB Capital in London, who mempredikis that U.S. oil would struggling through the $ 96/barel because investor demand is limited to the assets at risk.

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Oil U.S. Oil Stock Down Amid High Level Approach 3-Decade

 

Wednesday, June 26, 2013

 

WTI oil fell for the first time in three days after an industry report showed U.S. oil inventories remain near their highest level in more than 30 years.

 

Oil was down about 1.1% in New York, before reducing some ground. U.S. oil inventories fell 28,000 barrels last week to 392 million, according to the American Petroleum Institute (API) after the expiry of futures trading markets yesterday. Oil inventories rose to 396.3 million at the beginning of this month, the highest level since 1984. A report from the Energy Department today will probably show a decline of about 1.75 million barrels, according to a Bloomberg News survey. Stock up on last month fluctuated between down as much as 6.3 million barrels and increased by about 3 million barrels, according to the government's weekly report.

 

"Today is a fairly quiet on the economic data as the market focused on the data from the energy department later," said Bjornar Tnhaugen, senior commodities analyst at Nordea Markets. "It will be interesting to see whether akah Cushing oil inventory levels down, as they begin to move down ketiha in three quarters and this can create some movement in the market. "

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Towards Increase Oil Daily 4th streak

 

Thursday, June 27, 2013

 

Rally in crude oil prices continue on Thursday, with the last on their way to hike the 4th consecutive day, amid easing concerns about the reduction of monetary stimulus by the Federal Reserve.

 

"The revised down the U.S. first-quarter GDP figures are likely to delay plans to slow the pace of Fed asset purchases," said Citi Futures analyst Tim Evans.

 

Price of 'black gold' again rising after the U.S. Commerce Department on Wednesday revised down its economic growth figures for the first quarter to 1.8%, from its earlier projection of 2.4%. The final data can wear down speculation that the U.S. central bank will reduce monetary stimulus in the near future.

 

Currently Crude oil for August delivery traded at around $ 95.90 or 0.5% higher than yesterday's closing price.

 

For Thursday, the oil market participants focus will be on the data U.S. consumer spending in May, which should be able to give you an idea of ​​the economic growth in the 2nd quarter. Moreover, the weekly jobless claims data and pending home sales in May will also seize the attention of investors this evening.

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OIL Towards Strengthening Longest Since April

 

Friday, June 28, 2013

 

WTI oil rose for a fifth day, this is the longest hike since April, on signs of economic recovery in the U.S. and Germany that will support oil consumption.

 

Oil rose by 0.8%, and is ready to strengthen in the second quarter. Retail sales data in Germany rose in May exceeded forecasts, signaling that it is adding a recovery in the country with the largest economy in Europe began to gather pace in the quarter. Meanwhile, other reports, of Americans filing for jobless claims fell and the weekly rate for consumer spending rebounded in May, is addressed in the data from the U.S. government yesterday.

 

"Oil traded at a high level today," said Andrey Kryuchenkov, an analyst at VTB Capital in London. "Operational refinery runs good, but the increase for oil will still be limited to long-term, hampered by a number of supply."

 

Oil is currently traded in the range of $ 97.40/barel, with the highest price at the level of $ 97.49 and the lowest price at the level of $ 96.52.