All About Commodity

[mynameisandhy]

Speculation Tax Oil Extends Decline

 

Thursday, December 12, 2013

 

Oil traded lower , extending losses in trading yesterday as investors saw a drop in crude oil inventories of oil refiners step to avoid taxes rather than an increase in demand .

 

Informastion Energy Administration said yesterday that U.S. crude inventories fell 10.6 million barrels during the week ended on December 6 last , after slumping 5.6 million barrels in the previous week . This figure is well above expectations for a decline of 2.2 million barrels from the analysts .

 

Investors doubt the decline as an increase in demand , they are seeing oil refiners are trying to deplete their inventory before the end of the year to avoid paying taxes when assessed in January.

 

The opinion can be seen from soaring gasoline and distillate fuel inventories . Based on EIA gasoline inventories rose 6.72 million barrels to 219.1 million barrels , and the highest level since October 4 , while distillate fuel inventories increased 4.54 million barrels to 118.1 million barrels .

 

Oil is currently trading at around $ 97.33 per barrel , away from daily highs $ 97.57 .

[mynameisandhy]

Weakness Into Oil Weekly Outlook Tapering In the Middle of the Fed

 

Friday, December 13, 2013

 

West Texas Intermediate ( WTI ) to the weekly decline amid speculation that the Federal Reserve will slow the pace of economic stimulus in the U.S. , the country 's largest oil consumer in the world .

 

Oil futures fluctuate in New York and down about 0.3 % on the week . Retail sales in the U.S. rose more than forecast in November , government data on the show yesterday , adding that the Fed would reduce estimates of bond purchases next week . Oil may go down in the next few days as supplies of fuel in countries rose amid reduced demand , according to a Bloomberg News survey .

 

" Tapering stimulus maneuvers seen as hawkish , " said Jonathan Barratt , CEO of Barratt Bulletin in Sydney . " In the middle of the market is looking for a terminal , tapering may be damaging the outlook for demand . Bullish and bearish movement today depends on existing fundamentals . "

 

WTI Oil for January contract slipped around 30 cents to $ 97.41 per barrel on the New York Mercantile Exchange at 16:47 pm . Oil rose 6 cents to $ 97.50 yesterday . The volume of trade in all contracts within 100 days . Oil futures rose about 6.1 % in 2013 and are on track for the fourth annual rise in five years .

[mynameisandhy]

Oil worry about Next Fed Policy

 

Monday, December 16, 2013

 

Oil has not changed much in the beginning of the Asian session as investors remain cautious with a variety of important events this week . Oil fell sharply in the last three sessions as fears about the potential spread of the Federal Reserve's stimulus reductions in the near future . Investors worried the Fed will begin to reduce stimulus when finish with a meeting on Thursday morning . Fed stimulus is one pillar of the U.S. economic recovery stimulus so that reduction can mean less energy sustaining economic recovery Uncle Sam . The U.S. is the world's largest energy consumer to change their economic situation may affect the outlook for energy demand .

 

Investors were also cautious ahead of the release of manufacturing data series of many developed countries today can provide further signals to the world energy demand . The data this morning showed an increase in Japanese manufacturing activity . China , and the euro-zone is scheduled to release data manufaktunya in the morning and afternoon . Investors were also cautious attention to the development of Iran's negotiations with the West . Investors worried about the development of the intention to realize the Iran nuclear deal will lead to the withdrawal of sanctions on Iranian oil exports . Nymex crude oil is now trading $ 96.59 ; are not so far from Friday's closing level of $ 96.44

[mynameisandhy]

Slowing Oil Prices , Markets Wait for Fed Meeting

 

Tuesday, December 17, 2013

 

Crude oil prices to trade this afternoon ( 17/12 ) recorded a slight decline . The energy commodities afternoon slowed due to market behavior factors that pending the outcome of the Fed meeting that will be held from tonight until tomorrow . The market is in dire need of certainty about the existence of an economic stimulus kebikana United States .

 

On the other hand , speculation regarding the number of U.S. crude inventories for last week are expected to increase 240 thousand barrels . Certainty regarding the data to be announced by the Energy Information Administration on this tomorrow .

 

Crude oil futures prices today declined by 41 cents to 97.07 dollars per barrel . Meanwhile, Brent crude fell by 65 cents to 108.76 dollars per barrel .

 

For this evening trading , crude oil prices are expected to rise even though the potential is still not very significant . It is influenced by the lack of economic data released . From the technical side , the support level is predicted at the level of 96.16 dollars per barrel and resistant level of 98.52 dollars per barrel . Untul fundamentals , will be released in a few moments the German economic sentiment data for November .

[mynameisandhy]

Waiting for the Fed , Oil Futures Flat

 

Wednesday, December 18, 2013

 

Oil futures closed flat on Tuesday , traders saw potential decline in U.S. oil inventories and await the Federal Reserve 's decision on monetary stimulus programs . The Fed began the meeting for two days , and will end tomorrow and give a decision will be made reduction of monetary stimulus or not .

 

Reduction of monetary stimulus could push the dollar and weigh on dollar-denominated commodities , including oil , and indirectly to cut the flow of investments in commodity markets .

 

U.S. oil inventories are expected to fall 4 million barrels for the week ended December 13th , according to analysts surveyed by Platts . Distillate inventories are also expected to fall by 1 million barrels , while gasoline inventories rose 1.4 million barrels expected .

 

Trading volume in few and is expected to continue following a number of hedge funds are closed end of the book . Oil on yesterday closed at $ 97.31 per barrel , while currently trading at around $ 97.53 .

[mynameisandhy]

Closed Oil Gains After Fed Decision

 

Thursday, December 19, 2013

 

Oil rose on Wednesday , at the highest level this week as investors saw the Fed's decision did tapering as evidence strengthening the U.S. economy to increase demand for oil . Fed monetary stimulus announced cuts of $ 10 billion per month .

 

The Federal Reserve cut the split between Treasury and mortgage -based assets starting in January 2014 . Fed Treasury purchases per month of $ 40 billion from $ 45 billion per month , and the purchase of mortgage -based assets of $ 35 billion from $ 40 billion per month

 

Traders also see the reduction in U.S. oil inventories . Energy Information Administration released the U.S. oil inventory data for the week ending December 13 fell by 2.9 million barrels to 372.3 million barrels . Gasoline inventories rose 1.3 million barrels , and distillate fuel inventories fell 2.1 million barrels .

 

Oil on yesterday closed at $ 97.60 per barrel , and is currently trading at around $ 97.75 .

[mynameisandhy]

Outlook Demand in U.S. Supporting Growth Oil

 

Friday, December 20, 2013

 

Crude oil prices continued to persist on the path toward a weekly gain on Friday , as the improving outlook for fuel demand in the U.S. and reduced supply from Libya .

 

Besides supported by U.S. stocks decline , the price of ' black gold ' also reap support from the Federal Reserve's latest policy measures . The U.S. central bank on Wednesday has decided to gradually reduce its bond-purchase program starting in January next year , following signs that the economy has been on a sustainable recovery path . Increased economic activity is believed will bring more demand for crude oil .

 

Reported from North Africa if Libyan crude exports have slumped to 110,000 barrels per day from about 1 million barrels per day in July , as the continued closure of most of the oil fields and export terminals by militia groups , tribes and miners . Sabotage is likely not going to end any time soon considering Tripoli itself still seems reluctant to meet the demands of the boycotters , who wanted political rights and a greater share of the oil wealth of the country .

 

Positive contribution also comes from reports the American Petroleum Institute ( API ) on Thursday , which shows the demand for refined products in the U.S. crude oil surged to its highest level in 6 years last month .

[mynameisandhy]

Gold Prices Decline to Reach 28 % This Year

 

Monday, December 23, 2013

 

The movement of the price of spot gold to trade this evening ( 23/12 ) again showed weakness after this afternoon had touched the level in 1200 dollars per troy ounce . Throughout this year the price of gold has decreased by 28 % , an annual decline largest in 1981. Attenuation is currently still quite high due to the selling of precious metals made ​​by the investor in the SPDR Gold Trust is currently at 814.12 metric tons .

 

Current spot gold price declined by 7.2 dollars to 1195.65 dollars per troy ounce with the support level of 1186.23 dollars per troy ounce and resistant level of 1222 dollars per troy ounce .

 

Positive conditions it still happens to other precious metals such as silver , which rose 3.63 % to 20.16 dollars per troy ounce , platinum rose 0.08 % to 1333.2 dollars per troy ounce and palladium rose 1.6 % to 709 dollars per troy ounce .

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting , predicted prices will still likely weakened . From the technical side , some technical indicators are still bearish as RSI moves are still moving in the range of 30 with a potential slowdown will still occur near the end of trading this year .

[mynameisandhy]

Oil Prices Slightly Up Before U.S. Economic Data Releases

 

Tuesday, December 24, 2013

 

Crude oil for movement this evening ( 24/12 ) recorded a slight increase and back up level 99 dollars per barrel . Plus the current gold price movement is inseparable from the existence of an expectation of a hike in U.S. new home sales data for the month of November at 449K and 5K into the data U.S. durable goods rise by 1.7 % . Both of these data will be announced on the night .

 

The increase in the oil price movement was also fueled by positive sentiment of the majority of the Asian stock markets rose today . Positive trends that occurred in the majority of Asian and global stock markets are expected to continue until the end of this year . The stock market apparently affected by expectations that the U.S. economy will improve in the next year .

 

Crude oil futures prices today rose 46 cents to 99.14 dollars per barrel , while Brent crude rose 3 cents to 11.59 dollars per barrel .

 

Division of Research in Vibiz Vibiz Consulting for the evening trade is expected to be still more likely to experience limited movement with the support level of 98.08 dollars per barrel and resistant level of 99.86 dollars per barrel .

[mynameisandhy]

Gold Prices Rise Again Driven Physical Potential Increase Purchases

 

Wednesday, December 25, 2013

 

At last night trading price of gold has increased for two of the past three sessions ( 25/12 ) . Gold prices rose due to growing speculation that the sharp decline in prices that have occurred this month will encourage buying among technical traders . While the rising violence in South Sudan also helped push up commodity prices .

 

The price of gold had dropped to its lowest level since August 2010 on the 19th of December, which is the position of 1193.60 U.S. dollars per troy ounce . Drop in gold prices occurred after the Fed said that the stimulus program will be reduced .

 

Throughout December the price of gold has declined by 3.8 percent . The price of gold leads to the first annual decline in 13 years .

 

Gold futures for February delivery contract rose 0.5 percent and closed at 1203.30 dollars per troy ounce . Throughout this year the price has decreased by 28 percent .

 

Spot gold prices experienced LLG dollar closing at 1204.45 position early this morning . The price increased by 5.85 dollars compared to the previous closing .

[mynameisandhy]

Oil Approaches $100

 

Thursday, December 26, 2013

 

Oil edged higher in early Asia; approaching the psychological level of $ 100 per barrel. Investors seemed quite optimistic with the bright outlook for energy demand over the course of the winter in various countries around the world. The market is also convinced with sustained energy demand of the world's biggest consumer after data last week signaled the sustainability of the U.S. economic recovery momentum. Nymex crude oil is now trading $ 99.37; trying to stay away from low-level daily $ 99.03

 

Concerns about the abundance of supply is also eased by the ongoing turmoil in Libya and Sudan. Libya still has not been able to activate the main port operations are quite disturbing oil exports. Libya is now producing only 110,000 barrels per day (bpd); much different from the production of 1 million bpd in July. The government of South Sudan has also been shut down oil refinery has a production capacity of 450,000 bpd due to worsening militant action.

[mynameisandhy]

Fluctuating Oil Data Work In Central and Supplies Seen Down

 

Friday, December 27, 2013

 

West Texas Intermediate oil fluctuated after only fewer Americans filed claims for unemployment benefits than predicted by economists , and before the release of data that would indicate the decline in expected U.S. crude inventories .

 

Oil futures were little changed in New York today , ready to rise in the second week . Unemployment benefit claims fell 42,000 to 338,000 last week became , on show in the data from the unemployment department yesterday . Oil inventories slipped as much as 2.65 million barrels , a decline for the fourth week , according to a Bloomberg News survey before the release of data from the Energy Information Administration on tonight .

 

" The news about the U.S. economy continues to be very positive , " said Ric Spooner , chief analyst at CMC Markets in Sydney . " Given the economic statistics that we see , if the markets get what is desired in matters of oil figures , we can see the oil rally . "

 

WTI oil February contract moved in the range of $ 99.55 per barrel in electronic trading are traded on the New York Mercantile Exchange , up four cents , at 16.45 pm . The contract rose by 33 cents to $ 99.55 a barrel yesterday , the highest closing level since October 18 . The volume of all futures contracts traded around 66 percent below the average 100 - day trading .

[mynameisandhy]

Surviving Oil Above $ 100 Over Drop in U.S. Supplies

 

Monday, December 30, 2013

 

West Texas Intermediate oil traded back above $ 100 per barrel for a second day after U.S. government data showed oil inventories fell more than expected to its lowest level since September.

 

Oil futures were little changed near its highest closing price , and for the first time above $ 100 a barrel , since October 18 last . Oil inventories fell as much as 4.73 million barrels last week amid rise in refinery operations , Energy Administration said in a report on December 27 . Previously, the economy is projected to fall to the median estimate of 2.65 million barrels in a Bloomberg survey .

 

" We are seeing some strength in the WTI above figures result in the release of better than expected " from the EIA , said Ric Spooner , chief analyst at CMC Markets in Sydney today . " There is potential for further rally in the market if we get more good news . The U.S. probably will get further improvement of economic statistics in the coming weeks . "

 

Mintyak WTI for February delivery was in the range of $ 100.25 per barrel in electronic trading in New York . Fell as much as 7 cents . Oil prices rose about 77 cents to 100.32 on December 27th . And contrast the volume of all futures trading around 52 % below the moving average of 100 days . Prices have climbed as much as 9.2 % in 2013 , are on track annual gain in five years .

[mynameisandhy]

Oil Back Down to $ 100

 

Tuesday, December 31, 2013

 

Weakening oil closed below $ 100 a barrel on speculation prices rose too high last week with U.S. oil inventories are near record highs this year . Oil declined for the first time in four days , cut the highest monthly gain since July .

 

Oil on Dec. 27 successfully broke above $ 100 per barrel for the first time in two months after the Energy Information Administration said oil inventories fell in the week empt streak . U.S. oil inventories for the week ended December 20 sebesaer 367.6 million barrels , the highest since mid-December for a second weekly data began to be recorded in 1982 . " The market actually rallied last week and now we are back downhill . The market is moving by itself . U.S. oil inventories are still at a very high level " said Phil Flynn , senior market analyst at Price Futures Group .

 

U.S. oil inventories always fall in December since 2005 . Companies in the Gulf Coast states typically defer import and minimize inventory at the end of the year to reduce local taxes .

 

Oil on Monday closed at $ 99.20 per barrel , and is currently trading at around $ 99.25 per barrel .

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[mynameisandhy]

WTI Oil Price Weakens Asian session 's Eve New Year Holiday

 

Wednesday, January 1, 2014

 

In electronic trading in Asia today crude oil prices WTI observed a slight decrease ( 31/12 ) . Markets quiet ahead of the start of new year holidays make the crude oil price movement is limited . At the close of 2013 the price of WTI crude oil is expected to experience an annual increase in fourth in the past five years amid thinning in U.S. crude supplies .

 

Crude futures movement seems to have dropped slightly after yesterday's sharp enough . Oil prices yesterday closed below the level of 100 dollars per barrel . Crude oil supplies are expected to show a decline of 2.9 million barrels last week as refiners produce at the highest level in the past five months .

 

WTI crude for delivery in February contract declined slightly by 9 cents today , traded at 99.20 dollars per barrel . At the end of trading early this morning in Nymex crude oil prices posted a decline of 1:03 and the dollar closed at 99.29 dollars per barrel .

 

WTI crude oil prices have increased by 7 percent during the month of December. Oil prices are expected to fulfill an increase of 8 percent for 2013 .

[mynameisandhy]

Oil Back Stronger Along fall in inventories

 

Thursday, January 2, 2014

 

West Texas Intermediate oil rose for the first time in three days after an industry report showed U.S. oil inventories fell , the country 's largest oil consumer in the world .

 

Oil futures rose as much as 0.5 percent after being closed for an annual rise of 7.2 % in the year 2013 . Institute American Petroleum Institute reported that U.S. crude inventories fell as much as 5.67 million barrels last week . Data from the Energy Information Administration in the estimate will show a decline of 2.83 million barrels to 364.7 million barrels , according to a Bloomberg News survey before the data is released tomorrow . The official index of manufacturing in China , which is the second largest oil consumer in the world , fell to its lowest level in four months .

 

" There are some people who live in the holiday trading period in which they think that the price may have come down with quite deep , " said Ric Spooner , a chief analyst at CMC Markets in Sydney . Prices have dropped as much as 1.4 percent since Dec. 27 , when oil is above $ 100 for the first time in two months . " Markets expect inventories will fall , Spooner added .

 

WTI oil for February delivery rose as much as 52 cents to $ 98.94 a barrel in trading in New York elektronil Exchange and is currently engaged in a range of $ 98.72 at 16:33 pm . Oil fell as much as 87 cents to $ 98.42 on December 31 . The volume of all oil futures contracts traded at about 55 percent below the moving average of 100 days .

[mynameisandhy]

Oil Expect Data U.S. Reserves

 

Friday, January 3, 2014

 

Oil has not changed much in Asia as investors awaiting the latest U.S. oil reserves tonight to look for further clues to the condition of your supplies in the country 's largest energy consumer in the world . The U.S. will release oil reserves at 23.00 pm which is predicted to decline by 2.3 million barrels for the week ending on 28 December. If the data show a greater reduction in reserves then it can be asserted tough demand in winter and reduce the fears of the abundance of your supplies .

 

Oil fell 3 % yesterday , pressured by a stronger dollar and worries about energy supply is in abundance in 2014 . Libya hopes to reactivate the biggest oil refinery , El Sharara , within the next 3 days . On the other hand , Indonesia's energy regulator said lng natural gas output is expected to rise 6 % in 2014 . Nymex crude oil is now trading $ 95.31 ; was not so far away from the opening level of $ 95.44

[mynameisandhy]

Oil Rebound from 4 Week Low Level

 

Monday, January 6, 2014

 

Oil traded higher today after the sharp falls in the last week , and bring the oil to the lowest level in four weeks . But the oil is still under pressure due to the prospect of an increase in Libyan oil supplies .

 

Oil last week dropped about 6 % due to the estimated recovery of Libyan oil production and an increase in inventories of distillate fuel and gasoline the U.S. push oil prices . Although U.S. crude inventories fell , but analysts said the decline was caused by tax evasion prompted the company to reduce inventory , seen from the barrels while distillate fuel demand remains weak .

 

On Friday , the Energy Information Administration reported that U.S. crude oil inventories for the week ended December 27 fell by 7 million barrels , while distillate fuel inventories rose 5.04 million barrels to 119.1 million barrels , and gasoline inventories increased 844,000 barrels to 220 , 7 million barrels .

 

Oil is currently trading at around $ 94.50 per barrel , away from daily lows $ 93.89 per barrel .

[mynameisandhy]

Oil Drops , In Close Lowest Level In Five Week

 

Tuesday, January 7, 2014

 

Oil futures closed with a decline for five straight sessions on Monday amid prospects for rising Libyan oil supplies helped push prices to its weakest close in five weeks .

 

Crude oil prices in February delivery fell as much as 53 cents , or 0.6 % to end at $ 93.43/barel on the New York Mercantile Exchange . Prices closed at its lowest level since November 29 and includes a decrease on Monday , has been accumulated during the five sessions to decline by almost 7% , according to data from FactSet . However, prices had touched record highs above $ 94 on Monday .

 

" It seems that the market can not decide whether the oil traded down on weak Chinese growth or rise above the problems in Iraq and the uncertainty about Libya , " said James Williams , an energy economist at WTRG Economics . " Peaceful conditions in Iraq and Libya combined with an agreement that lifts embargo on Iran and a request from OPEC to determine the actual quota would be very bearish for oil . "

 

For now , get the oil pressure with a possible increase in oil production of Libya , as the end blokkade pengujuk taste has been for months in major oil fields in the south of the country. Libya 's National Oil Corp. , on Sunday said that the El Sharara oilfield in its South countries have begun to produce as much as 60,000 barrels a day and may increase production in the future . Two other oil fields in eastern countries have also re- opened about a week ago after being blocked for several months . Total global oil supply " may be seen rising in 2014, as the news that El Sharara oil field in Libya have shown back in operation , " said Matt Parry , a senior analyst at the International Energy Agency in Paris .

[mynameisandhy]

Oil Flat Ahead of U.S. Inventory Data

 

Wednesday, January 8, 2014

 

Oil traded tend to be flat awaits U.S. oil inventory data to be released by the Energy Information Administration this evening , while the American Petroleum Institute has released U.S. oil inventory data yesterday .

 

API oil inventory data released U.S. fell as much as 7.31 million barrels , while distillate fuel climbed 5.17 million barrels and gasoline inventories increased 5.58 million barrels . While the EIA is expected to release data on U.S. oil inventories for the week ending January 3 fell as much as 2.75 million barrels , with distillate oil inventories are expected to increase 2.25 million barrels and gasoline inventories rose 2.5 million barrels .

 

Oil rebounded in trading yesterday after slumping for five consecutive days due to doubts about the recovery of Libyan oil production and unrest in Iraq . Libyan navy opened fire after an oil tanker to load approaching the port of Es Sider . The incident dampen prospects for recovery of oil production in the El Sharara field . While the clashes between the Iraqi government with militants linked to Al - Qaeda would also tend to disrupt oil production .

 

Oil is currently trading at around $ 93.91 per barrel , with daily highs and lows $ 94.15 $ 93.68 .

[mynameisandhy]

Oil Rebound from Low Level Week 6

 

Thursday, January 9, 2014

 

Oil traded higher after falling in six of the last seven days and touched the lowest level in six weeks yesterday. Oil rebounds after weaker dollar against the euro ahead of the release of the decision of the monetary policy by the European Central Bank .

 

U.S. oil inventory data released yesterday by the Energy Information Administration showed gasoline and distillate fuel inventories rose higher than expected which makes oil tumbled 1.4 % .

 

The euro rebounded from the lowest level of a five- week low against the dollar amid signs the euro-zone economy is starting to recover so that the ECB is expected to retain its policy .

 

" There is a good correlation between the euro - dollar oil today , macroeconomic conditions have a good chance to stabilize oil prices at a better level , but it should be underlined that it is stability , not the potential for increased high oil prices " said Gerrit Zambo , Beyerische oil trader at Landesbank in Munich .

 

Oil is currently trading at around $ 92.67 per barrel, after touching a high of $ 92.82 per barrel daily .

[mynameisandhy]

Oil Continues to Decline , On Supply And Demand Factors Weight the

 

Friday, January 10, 2014

 

Crude oil slipped back on Thursday , with WTI oil ended at its lowest level in 8 - months after news that a major oil refinery production in the North Sea began to operate again , and also because the market is weighed down by a determination to Libyan oil exports are still on track .

 

Brent oil rose to over $ 108 a barrel earlier in the session , driven by supply concerns after Nexen reported a work stoppage in the North Sea Buzzard oil refinery , the largest refinery in the Forties that produce oil mixture . Forties is the most important oil refinery in North Sea Brent price of the underlying benchmark . Prices then dropped after Nexen said that they are in the process of production and estimated production back to normal levels .

 

Libya is currently producing approximately 650.00 barrels of oil per day , which is as much as 510,000 barrels for export . The export figures rising from under 100,000 barrels per day last year but still about half of the level of exports before the protests diminish Libyan production .

 

Analysts say that in the estimate exports will rise quickly back towards the 1.4 million barrels per day are seen before the attack on the oil refinery began last July that has reduced production due to rising tensions between the government and the Tripoli armed groups who control three eastern oil port in the country .

 

WTI oil fell as much as 61 cents to close at $ 91.66 , the lowest level since May 1, 2013 . Oil extends weakening of Wednesday , as surging crude inventories in WTI delivery point in Cushing , Oklahoma , it has weighed on the market .

 

Brent oil for February delivery slipped nearly $ 1 remedy was near $ 106 a barrel .

[mynameisandhy]

Oil Still doldrums, Tapering Factor Fed Becomes Key Issues

 

Monday, January 13, 2014

 

In trading this evening (13/1) Crude oil prices recorded still weakened. Energy commodities are apparently still not out of the bearish trend since December 30, 2013. Attenuation that occurs at this time caused by the impact of speculation regarding the implementation of the policy will soon be tapering U.S. economic stimulus by the Fed.

 

At the same time, the Iranian government said today that it is ready to accept inspections of nuclear facilities inspection to be carried out by the UN and some western countries that have planned since last year.

 

Crude oil futures prices today declined by 75 cents to 92.15 dollars per barrel, while Brent crude fell by 39 cents to 107.64 dollars per barrel.

[mynameisandhy]

U.S. Retail Sales Rise , Oil Gains

 

Tuesday, January 14, 2014

 

Oil traded higher as U.S. retail penujualan growth above estimates and estimated decline in U.S. oil inventories to seven consecutive weeks .

 

The U.S. Commerce Department reported retail sales grew 0.2 % in December as Americans increase the supply of food and drink for the holidays , buying more clothes and increase online purchases . Retail sales regardless of the volatile automotive sector recorded an increase of 0.7 % , the highest since February 2013 2013.Sepanjang retail sales rose 4.12 % from the previous year .

 

Based on a Bloomberg survey , U.S. oil inventories are expected to drop 1.15 million barrels to 356.7 million barrels , the lowest level since September 2013 . While gasoline inventories are expected to rise 2.5 million barrels and distillate fuel inventories increased 1.38 million barrels . Energy Information Administration ( EIA ) will report tomorrow oil inventories , while the American Petroleum Institute ( API ) will report today .

 

Oil is currently trading at around $ 92.48 per barrel , with daily lows and highs $ 91.48 $ 92.76 .