All About Commodity

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Oil Fluctuating Gains After High Demand For Gasoline in the U.S.

 

Thursday, November 7, 2013

 

West Texas Intermediate oil fluctuated after climbing to its highest level in five weeks as gasoline consumption in the U.S. is at the fastest pace since July .

 

Futures were little changed today after rising as much as 1.5 % yesterday . Demand for vehicle fuel increased by 2.6 % in the last week , reducing approximately 3.76 million barrels of gasoline supplies , according to a report from the U.S. Energy Information Administration agency . Oil inventories declined by more than nine times more than the analyst estimate in a survey by Bloomberg News .

 

" We have seen from some recent reports that the decline in gasoline inventories are strong enough , " said David Lennox , a commodities analyst at Fat Prophets in Sydney . " It seems quite a lot of demand that caused some oil supplies in the U.S. is moving into the market . If that happens , then the price should be relatively strong . "

 

Oil futures currently moving in the range of 95.10 per barrel in electronic trading on the New York Mercantile excange , up about 30 cents, at 17:20 pm . Oil gained as much as $ 1.43 to $ 94.80 yesterday , the biggest gain since Oct. 2 . Prices have gained about 3.3 % this year .

[mynameisandhy]

Oil Falls Following ECB Measures , Focus to Iran

 

Friday , 8 November 2013

 

Oil fell as a result the dollar rallied following the ECB's surprise move from the trim to record the lowest refi rate 0.25 % , and the progress towards easing the potential economic doubts Iran oil burden .

 

Result surprising move , the euro tumbled against the dollar , we even touched the lowest level in the last eight weeks . The strengthening of the dollar tends burden commodities like oil prices . In addition to the U.S. GDP for the third quarter which was released about the size of 2.8 % is much higher than estimates also propping up the dollar rally .

 

Carefully observe trader talks between Iran and the West in Geneva . Iran's nuclear development program is expected to stop consideration extraction containing suspicious of iran oil trade restriction .

 

Oil weakened in trading closed yesterday at $ 94.35 a barrel level , with the highest levels of daily $ 95.31 , and the lowest $ 93.80 . While currently trading at $ 94.36 a barrel range .

[mynameisandhy]

Talks progress Iran , Oil Flat

 

Monday, November 11, 2013

 

Oil closed flat at above $ 94 per barrel , traders will pay attention to the meeting between the West and Iran over Iran 's nuclear program . Oil swung between strengthening and weakening after the market trying to find its footing after U.S. employment data were solid fueled speculation the Federal Reserve will reduce monetary stimulus program sooner than expected .

 

Strengthening of oil in early trade occurs because of the unrest in Libya , the worst occurred in Tripoli on Thursday . Libyan protesters preventing oil tankers loading in ports Hariga on Friday .

 

While the U.S. Labor Department reported the U.S. economy in October managed to create 204,000 jobs is much higher than economists ' estimates of 125,000 jobs . Dollar surged after the report , which weighed on oil prices .

 

Oil on Friday closed at $ 94.35 per barrel , with daily highs and lows $ 94.92 $ 93.90 .

[mynameisandhy]

Oil Drops Ahead of China Central Committee Meeting Decisions

 

Tuesday, November 12, 2013

 

U.S. crude oil futures fell sharply in Asia and Europe on Tuesday as the strengthening of the U.S. dollar combined investors profit-taking ahead of a key meeting of the Central Committee of the Chinese Communist China's economic reform agenda .

 

So far the price of crude oil futures for December contract fell -0.68 % to $ 94.49 per barrel , after reaching its highest point at $ 95.04 intraday and daily lows at $ 94.31 per barrel .

 

Market participants are still awaiting the results of the third plenum meeting of the Chinese Communist Party 's expected to announce a number of key economic reforms . Some analysts also expect one of these reforms would include the liberalization of energy prices and reduce the government's tight control on the energy sector .

 

China, the world's second-largest oil consumer is expected to show the pace of oil demand is moderate in Q4 2013 's . Moderate macroeconomic conditions may also be reflected in the rate of demand is moderate and less likely to show a rapid surge in demand .

[mynameisandhy]

Oil Near Lowest Level 5 Months Ahead of Inventory Data

 

Wednesday, November 13, 2013

 

Oil is trading slightly higher after touching the lowest level in the last three months before the U.S. oil inventory data was released , which is expected to rise to its highest level since June . U.S. oil inventories are expected to go up , and a rise in eight weeks straight . Energy Information Administration will release data on U.S. oil inventories tomorrow .

 

" The market is now looking at U.S. oil inventories increased again . Oil prices are likely to weaken after ' dramatic selloff ' which began in August "said Ole Hansen head of commodity strategy at Saxo Bank A / S in Copenhagen .

 

EIA earlier said the U.S. would skip Russia and Saudi Arabia as the largest oil producer in 2015 , close to energy self-sufficiency in the next two decades due to an increase in output .

 

Oil is currently trading at around $ 93.29 per barrel , with daily lows and highs 93.40 $ 92.94 .

[mynameisandhy]

Oil Gains Ahead of EIA Inventory Report

 

Thursday, November 14, 2013

 

Oil rose for a second straight day on speculation that disruption of oil supplies from Libya due to the political turmoil in Libya. Investors will take notice of the EIA oil inventory report that will be released this evening.

 

On Wednesday, the American Petroleum Institute released data on U.S. oil inventories rose 599,000 barrels last week. While today's EIA report is expected to be released in U.S. oil inventories increased by nearly 1 million barrels. The increase will be a rise in eight weeks straight.

 

EIA earlier said the U.S. would skip Russia and Saudi Arabia as the largest oil producer in 2015, close to energy self-sufficiency in the next two decades due to an increase in output.

 

When oil traded at around $ 93.65 per barrel, with daily lows and highs $ 93.46 $ 94.00.

[mynameisandhy]

Oil Moving drop 6 streak Town

 

Friday , 15 November 2013

 

Traded oil gained for the last three days due to speculation the Fed will maintain monetary stimulus over time. But oil is also leading weekly drop six week streak, and will be the longest weekly decline in the past 15 years due to rising U.S. oil preparations .

 

U.S. oil preparations rose in eight week streak, and are at the highest level since June. Energy Information Administration reported yesterday on the last week of U.S. oil supplies rose 2.64 million barrels , well above forecasts by analysts increased 800,000 barrels .

 

Meanwhile, leaders of the Fed's next candidate Janet Yellen , in his testimony before the Senate Banking Committee yesterday, giving a signal of monetary stimulus is likely to maintain longer. " Dovish statement Yellen shore oil . Fundamental factors of the preparation side shows the opposite direction , "said Michael McCarthy head strategist at CMC Market.

 

Oil is currently trading at $ 94.10 per barrel range , with the highest level of daily $ 94.27 , and the lowest $ 93.60 .

[mynameisandhy]

Oil Slips Amid Saudi Arabia Export Reaches Highest in 8 Years

 

Monday, November 18, 2013

 

West Texas Intermediate oil fell , extending the longest weekly weakening since 1998, with Saudi Arabia to export oil to the highest level in eight years .

 

Oil futures fell about 0.4 % in New York after slipping to six weeks . Saudi Arabia is the largest crude oil producer in the world and in the month of September has been exporting more oil than any other month since November 2005 , according to data from the Joint Data Initiative Organisastions . France will continue sanctions if Iran does not give up its nuclear weapons , the president said Farancois Hollande in Israel yesterday . The world powers will meet in Geneva on November 20 for talks with Persian Gulf countries on their atomic program .

 

WTI oil this morning down about 34 cents to $ 93.50 / barrel in electronic trading on the New York Mercantile Exchange . Trading volume for all futures contracts were trading about 14 percent below the moving average 100 days .

 

Saudi Arabia produced 10.12 million barrels per day and 7.84 million barrels sent in September , up from 7.8 million barrels , statistics posted in the JODI website yesterday .

[mynameisandhy]

Oil Down For Day 2 Outlook Over Stimulus

 

Tuesday, November 19, 2013

 

West Texas Intermediate oil fell for a second day as investors consider the prospect that the U.S. will reduce monetary stimulus . U.S. crude oil inventories slipped after rising for eight weeks , based on a Bloomberg News survey .

 

Oil futures fell about 0.3 % in New York before a speech from Fed chairman Ben S. Bernanke in Washington , while investors are speculating that he would support the possibility to maintain bond purchases . Price yesterday fell to its lowest level in five months after the comments from New York Fed bank president William C. Dudley raised the prospect that the central bank will reduce the stimulus .

 

" Tapering is not going to happen , they can not back down , they have to keep moving forward , " said Jonathan Barratt , CEO of Barratt 's Bulletin in Sydney . " Oil inventories have risen , and in the end you will see some increase in demand , but it must be sustainable .

 

Oil during the observed moving in the range of 93.40 to 93.73 and the low level of High 93.36

[mynameisandhy]

Oil Gains Ahead of Inventory Data

 

Wednesday, November 20, 2013

 

Oil is trading slightly higher ahead of U.S. oil inventory data released by the Energy Information Administration today . Oil on yesterday's trading up 0.3 % .

 

American Petroleum Institute oil inventory data released for the week ending 15 November rose by 500,000 barrels . Also reported gasoline inventories rose 100,000 barrels while distillate fuel fell 5 million barrels .

 

While the EIA is expected to release data on oil inventories last week fell 200,000 barrels . If the data is released according to the estimates of U.S. oil inventories will decline for the first time in the last eight weeks .

 

Oil also found support from a weaker dollar , after the Fed chairman , Ben Bernanke , said the Fed will maintain monetary stimulus as long as needed and will only begin to reduce monetary stimulus when it believes an increase in the labor market will continue.

 

Oil is currently trading at around $ 93.99 per barrel , with daily lows $ 93.78 , and the highest was $ 94.26 .

[mynameisandhy]

Oil at Lowest Level 5 Months Following Fed Stimulus Speculation

 

Thursday, November 21, 2013

 

Oil traded near the lowest level in five months due to the possibility of reducing the Federal Reserve's monetary stimulus in the near future . Meanwhile U.S. oil inventories rose in nine consecutive weeks .

 

FOMC Minutes earlier dirlis giving out signals that the Fed is likely to reduce monetary stimulus in the coming months if the condition of the economy and the U.S. workforce continues to show improvement .

 

EIA released yesterday in U.S. oil inventories for the week 15 November berakhior increased 375,000 thousand barrels, to 388.5 million barrels . The inventory level was the highest since June. Temporal HSBC Chinese manufacturing data released released version of 50.4 for November , lower than the estimate of 50.9 and the release of 50.9 the previous month . The data signaled momentum of China's economic recovery is still fragile . The data weighed on oil since China is the second largest oil consumer in the world .

 

Oil has fallen in six consecutive weeks , becoming the longest weakening in the last 15 years . Oil is currently trading at around $ 93.78 per barrel , with daily highs and lows $ 93.84 $ 93.44 .

[mynameisandhy]

Oil Towards Strengthening First Week in 7 Last Week

 

Friday, November 22, 2013

 

U.S. economic data released yesterday showed positive U.S. economic recovery berlanjutntya successfully support the strengthening of oil due to expectations of an increase in oil demand by the biggest oil consumer in the world . Oil is now approaching its first weekly gain in seven weeks.

 

U.S. claims for unemployment benefits in the week ending 16 November fell by 21,000 to 323,000 , below economists ' forecasts as much as 335,000 claims . While the data index of U.S. manufacturing activity rebounded to a level of 54.3 in November after falling to 51.8 in October , and higher than the estimate of 52.6 . Other data showed the core producer price index for October rose to 0.2 % from the previous month by 0.1 % and 0.1 % above forecast .

 

Steady current oil traded above $ 95.00 per barrel , the lowest level daily , $ 95.00 and $ 95.42 the highest .

[mynameisandhy]

Iran's deal Weaken oil

 

Monday, November 25, 2013

 

Oil fell in early Asia after Iran and the West reached a preliminary agreement to address concerns over Tehran's nuclear program . In a meeting at the weekend , Iran get easing sanctions which Tehran can access funds worth $ 7 billion in the next 6 months as negotiations will continue until the establishment of a final deal . Although Iran did not get the oil export sanctions easing but the deal has reduced the risk of military action against Iran and increase the prospects for further easing sanctions in the future . Nymex crude oil is now trading 94.03 ; away from Friday's closing level of 94.69

 

By agreeing to a reduction in the activity of the nuclear program , Iran get easing sanctions against transactions oil , petrochemical , automotive parts , gold , and precious metals . Although there is no agreement easing oil export sanctions , but Iran was allowed to keep exporting oil at current levels . The deal requires Iran to restrict its enrichment capacity of maximum 20 % and stop the installation of instruments continuation of enrichment . Iran is also not allowed to activate the nuclear reactor at Arak that if the operation will smooth the path Iran to develop nuclear weapons .

[mynameisandhy]

Oil Price Recovers Post- Iran Nuclear Deal

 

Tuesday, November 26, 2013

 

Crude oil futures traded higher in the European session skepticism over Iran's nuclear deal with superpowers 6 ekspektasikan dampen the rise in global oil supply in the short term .

 

Recovery of oil prices after a sharp drop the previous sustained economic package details Iran's post- agreement that provides relief for the economy of Iran . Although overall there is still a risk of increase in supply from Iran after the lifting of the embargo policies but the package gives Iran access to a fund of $ 4.2 billion is locked due to the U.S. embargo earlier .

 

The next focus will be on the OPEC meeting on Wednesday will discuss tomorrow 's expected production quotas of OPEC member countries .

 

So far the price of U.S. crude oil futures contract for the month of January rose 0.63 % to $ 94.67 per barrel , after reaching its highest point at $ 94.69 intraday and daily lows at $ 94.17 per barrel .

[mynameisandhy]

Oil falls for 4th day Over Rising Inventories

 

Wednesday, November 27, 2013

 

West Texas Intermediate oil fell for a fourth day after an industry report showed oil inventories rose for the ninth week in the U.S. , the country 's largest oil consumer in the world .

 

Oil futures slipped around 0.2 % in New York . U.S. crude oil inventories rose 6.9 million barrels last week , according to the American Petroleum Institute . Institute for Energy Information Administration will release its report on oil inventories today are projected to show a rise of 750,000 barrels , according to a Bloomberg News survey . OPEC will keep production quotas unchanged when the group meeting next month in Viena , on show in a separate survey .

 

Oil this morning fell by 22 cents to $ 93.46 per barrel in electronic trading on the New York Mercantile Exchange , earlier hit a high level in the 93.58 area . Oil slipped as much as 0.4 percent yesterday became $ 93.68 . Trading volume of all contracts about 63 percent below the average 100 - day movement .

 

OPEC reiterated their collective target of 30 million barrels per day at its meeting next week , according to estimates from 18 of 20 analysts surveyed by Bloomberg News .

[mynameisandhy]

The Sunset Over Skyrocketing Oil Inventories

 

Thursday, November 28, 2013

 

West Texas Intermediate oil traded near its lowest level in almost six months as crude oil inventories in the U.S. rose for the 10th week , the country 's largest oil consumer in the world .

 

Oil futures were little changed in New York after falling as much as 1.5 % yesterday , the most in two weeks penurnanan . U.S. crude inventories rose as much as 2.95 million barrels to its highest level since June , on show in the report by the Energy Information Administration . Analysts surveyed by Bloomberg earlier estimate increased 750,000 barrels of oil . Gasoline supplies rose , while distillate inventories fell , on show in the data from the EIA .

 

Oil for January contract is in the range of $ 92.21 , down by 9 senm in trading on the New York Mercantile Exchange at 8:26 pm . Oil slipped by $ 1.38 becomes $ 92.30 yesterday , the lowest level since May 31. The volume of all futures contracts traded was 82 % below the moving average of 100 days . Oil prices had dropped as much as 4.3 % this month .

 

Libyan efforts to drain more oil further becomes more complicated as the clash between the army and rebels in the eastern region that has more than 60 % of oil production capacity in the North African country .

[mynameisandhy]

Libya Try Stealing Attention Oil Markets

 

Friday, November 29, 2013

 

Crude prices move up away from 6 - month lows on Friday as the outbreak of unrest in Libya again steal the oil market participants , lack of sentiment amid the post- Thanksgiving Day holiday . The movement of the weakening U.S. dollar also contributed to the rise in commodity prices , including the ' black gold ' .

 

Currently crude oil for delivery in January traded at around $ 93.70 per barrel , after touching the lowest price in the area of ​​$ 92.10 per barrel .

 

Back overshadowing geopolitical oil market following the wake of the unrest in Libya back . More than 40 people were reported killed in an explosion at a military depot in southern Libya , after local residents tried to steal ammunition . The latest news complements a series of other clashes are increasingly highlighting the inability of the government to restore security stability in Libya . Until now, Libyan oil exports are still far below their normal capacity as the action of armed militias and workers , who demanded political rights and wage increases , making the most of the oil fields and export terminals have to stop operations

[mynameisandhy]

Oil Gains for First Time in 5 Days

 

Monday, December 2, 2013

 

Oil rose for the first time in five days following the fall of Libya's oil production . Prices rebounded from the lowest level in the last six months . Output in Libya , owner terbersar oil reserves in Africa , fell to its lowest level in two years in November amid the action of the militia and demos .

 

Libyan oil production fell 40,000 barrels to 210,000 barrels a day this month , its lowest level since November 2011 . Strengthening oil also supported the weakening dollar in early trade contributed positively to the commodity markets .

 

Previous oil continued pressure due to rising U.S. oil inventories in 10 weeks in a row and an increase in oil production . Based on the EIA report inventories at Cushing , Oklahoma , storage hub and the delivery point for oil contracts rose to 40.6 million barrels , the highest level since July . Gasoline inventories rose 1.75 million barrels in the six weeks after the fall lastly , distillate oil fell 1.67 million barrels .

 

Oil closed higher on Friday trading at $ 92.78 per barrel level , with daily highs $ 93.90 , and the lowest was $ 92.06 .

[mynameisandhy]

Manufacturing Data Preserve Strengthening Oil

 

Tuesday, December 3, 2013

 

Oil traded higher in three consecutive days due to a slick manufacturing data from various countries encourage increased oil demand outlook , as well as a possible reduction in U.S. oil inventories .

 

Manufacturing activity in the U.S. and China are the two largest oil consuming country in the world to show improvement. U.S. PMI index of manufacturing activity in November was surprisingly jumped to its highest level since April 2011 to 57.3 from 56.4 in October . That confront expectations fell to 55.0 from economists . While the PMI manufacturing index bamboo curtain in November of 51.4 . The number is the same as in October , the highest level in 18 months , while economists had previously forecast of 51.2 .

 

After riding in the 10 weeks in a row , U.S. oil inventories for the week ending 29 November is predicted to fall . Energy Information Administration will release data on U.S. oil inventories tomorrow .

 

Oil is currently trading at around $ 94.07 per barrel to $ 93.84 daily lows and highs $ 94.21 .

[mynameisandhy]

Oil Up Four-day losing streak

 

Wednesday, December 4, 2013

 

Oil traded in a four- day losing streak , the longest gain since August after TransCanada Corp. . said it would begin to operate the Keystone XL pipeline next month and declining U.S. oil inventory data .

 

According to the Energy Information Administration , WTI oil trading over $ 18 below Brent in January due to inventories at Cushing , Oklahoma , rose to a record high of 51.9 million barrels . The oil storage center is the largest in the U.S. and shipping center for the WTI contract . TransCanada plans to start sending oil on January 3 to Port Arthur , Texas , through the expansion of the Keystone Cushing .

 

API oil inventory data released U.S. fell by 12.4 million barrels in the week ended 29 November, is the first decline in 10 weeks terakhirm gasoline fell 119,000 barrels . While EIA oil inventory data will be released today. OPEC meeting is taking place today is expected akam still maintaining production target set two years ago .

 

Oil is currently trading at around $ 97.24 per barrel , with daily highs and lows $ 97.36 $ 96.73 .

[mynameisandhy]

Maintain OPEC Crude Oil Production Target

 

Thursday, December 5, 2013

 

OPEC , which seemed satisfied with the current level of oil prices , agreed to keep crude output limits at least until June even after Libya , Iran and Iraq plans to raise oil exports in the coming months . Maintaining the target of 30 million barrels per day for the 12 member states of the Organization of Petroleum Exporting Countries , which supplies about 40 % of the world's oil , will ensure price stability , said Venezuelan Energy Minister Rafael Ramirez yesterday . No need to reduce the limit on the upcoming meeting , according to Libyan Oil Minister , Abdulbari al - Arusi .

 

" The question is what will be done by OPEC if the output from Libya and Iran re- enter the market next year , " Carsten Fritsch , analyst at Commerzbank AG in Frankfurt , yesterday . He said that it may be discussed in June . Some analysts warn that excess supply , including U.S. shale oil and a potential increase in the level of oil exports of Iran, Libya , and Iraq will likely push the price down if oil production levels are not trimmed .

[mynameisandhy]

Oil on Line Reinforcement Largest Since July

 

Friday, December 6, 2013

 

Oil headed for its biggest weekly gain in five months following the U.S. economy recorded the fastest growth since 2012 and a drop in U.S. oil inventories.

 

The U.S. Commerce Department U.S. GDP growth revised upwards for the 3rd quarter to 3.6% of the initial publication of 2.8%, and higher than the estimate of 3.0% which will increase optimism oil demand of the country's largest oil consumer the world.

 

While the Energy Information Administration reported that oil inventories fell 5.59 barrels in the week ended 29 November following an increase in oil refining. The decrease in inventory is the first in the last 11 weeks.

 

Throughout the week oil rose 5.1%, and has risen in five consecutive days. Oil is currently trading at around $ 97.25 per barrel, with daily highs and lows $ 97.47 $ 97.22.

[mynameisandhy]

Oil Survive in High Level Along China's Rising Imports

 

Monday, December 9, 2013

 

West Texas Intermediate oil traded near its highest level in almost six weeks as China's net imports of crude oil rebounded in November and the unemployment rate in the U.S. fell , signaled a recovery in the world's largest consumer nation .

 

Oil futures were little changed in New York after rising by 0.3 % on December 6 to be closed for six days with the increase , it is strengthening the longest streak since August . China's net imports of crude oil rose by 19 % to 5.73 million barrels per day last month , up from its lowest level in 14 months , the data show from the General Administration of Custom in Beijing yesterday . The U.S. unemployment rate fell to 7 % in November , the smallest level in the last five years , according to a report from the department of labor .

 

" The market still maintain the strengthening of oil , " said Ric Spooner , chief analyst at CMC Markets in Sydney who predicts investors will probably sell contract WTI oil when the price is near $ 100 a barrel . " We are entering resistance zone after the rally that we naturally look bergitu far . People will be watching to see what the movement of oil from the current position . "

 

WTI Oil for January contract at $ 97.75 , up 10 cents in trading on the New York Mercantile excahnge at 16:43 pm . Neik oil by 27 cents to $ 97.62 on December 6 , the highest close since October 29 . Trading volume of all contracts traded was approximately 61 % below the average 100 - day movement . Oil prices rose 5.3 % last week , the biggest gain since July .

[mynameisandhy]

OPEC Oil Production Not Achieve Target In 3 Months

 

Tuesday, December 10, 2013

 

OPEC to cut crude production in November to its lowest level in more than two years as production falls below the target of 30 million barrels per day for the third month .

 

Organization of Oil Exporting Countries ( OPEC ) pumped 29.63 million barrels of oil last month compared to 29.83 million barrels in October , OPEC said in its monthly oil report today , citing data from both sources . It was the lowest level since May 2011 . The group decided to keep production limits at the level of 30 million barrels at a meeting in Vienna last week as members of the " all satisfied " with the decision, said Saudi Arabia 's oil minister Ali al Naimi told reporters on December 4 .

 

" In taking this decision , the member states reaffirmed their readiness to respond immediately unexpected development that could impact negatively on booking and the balance in the oil market , " OPEC said in a report today .

 

Analysts at banks including BNP Paribas Sam Citigroup Inc. and Deutsche Bank AG predict that some OPEC members , especially Saudi Arabia , will probably need to reduce production in 2014 to prevent a flood of oil globally . U.S. oil production reached its highest level in a quarter century , while Iraq , Libya , and Iran has said that they plan to increase exports in the coming months

[mynameisandhy]

The IEA estimates Raise Global Oil Demand in 2014

 

Wednesday, December 11, 2013

 

Global oil demand in 2014 will be higher than previously forecast , after consumption in the U.S. rebounded to its strongest level in five years , says the International Energy Agency .

 

Estimates of the IEA said today in its monthly oil report shows that the demand will rise by 1.2 million barrels per day , or 1.3 %, to 92.4 million barrels per day next year , an increase of 240,000 barrels per day from the previous projection . Fuel use in the U.S. rose above 20 million barrels per day in November for the first time since 2008 , based on provisional data . While the IEA also raised its estimate for the amount of crude oil that needs to be supplied by OPEC , it is " open space " for a potential return of Iranian oil exports " which can be a challenge for the other producers " in OPEC , the IEA said .

 

" The current geopolitical factor bearish , while bullish fundamentals , " said Michael Lynch , president of Strategic Energy & Economic Research in Massachutes , before the IEA published reports. This is a change from the recent condition . People are anticipating tight supply at the time of entering next year . The demand will be higher . "

 

Brent oil futures slipped by 1.4 % this year , traded in the range of $ 110 per barrel in London today amid in batasinya fuel use and reduced tensions with Iran will rise to conflicts that disrupt the export market for oil in the Middle East . " A a fairly strong recovery " and the low price of gasoline in the U.S. to help revive demand in the world's largest oil consumer , the IEA said .