All About Commodity

[mynameisandhy]

Inventories Down , Oil Jumps

 

Wednesday, January 15, 2014

 

Oil traded sharply higher after the release of U.S. oil inventory data by the Energy Information Administration . Data from the EIA showed U.S. crude inventories for the week ending January 10 fell 7.7 million barrels , far higher than the estimate of 1.15 million barrel decline analysts .

 

EIA also reported gasoline inventories rose 6.2 million barrels , while distillate fuel inventories fell 1.7 million barrels . Inventories of gasoline and distillate oil previously expected rise of 1.7 million barrels and 1.3 million barrels .

 

Another report released by the American Petroleum Institute yesterday showed crude oil inventory data fell 4.14 million barrels for the week ending January 10 . Gasoline inventories rose 5.4 million barrels while distillate fuel inventories fell 1.7 million barrels .

 

Oil is currently trading at around $ 93.77 per barrel , away from daily lows $ 92.41 , and had touched the highest level of $ 93.92 .

[mynameisandhy]

Oil traded at High Level Over Drop in U.S. Oil Reserves

 

Thursday, January 16, 2014

 

West Texas Intermediate oil traded near its highest level in two weeks as crude oil fell to its lowest level since March 2012 in the U.S. , the country 's largest oil consumer in the world .

 

Oil futures were little changed in New York after rising as much as 1.7 % yesterday , the highest level in six weeks . Crude stocks fell as much as 7.66 million barrels in the seven-day period ended January 10 , data show by Informartion Energy Administration . Reserves of oil fell to the lowest level in the last seven weeks and compared with an estimated decline of 1.3 million barrels in shouted by analysts in a Bloomberg survey . Oil imports fell by 13 % , its lowest level since September 2012 , the EIA said .

 

Oil for February delivery traded at around $ 94.21 per barrel , up 4 cents , in electronic trading on the New York Mercantile Exchange at 9:06 pm . Oil yesterday rose as much as $ 1.58 becomes $ 94.17 , the highest level since January 2 . The volume of all futures contracts traded around 81 % below the moving average for 100 days .

 

Distilled oil reserves , which are included in the category of heating oil and diesel , fell as much as 1:02 million barrels , the EIA said . They were previously estimated to rise by 1:25 million barrels , according to the median estimate of 11 analysts in a Bloomberg News survey .

[mynameisandhy]

Keep Oil prices slide amid slowing Chinese factory data

 

Monday, January 20, 2014

 

West Texas Intermediate oil price slipped from its highest close in two weeks after government data showed China's industrial production slowed last month , the country 's second largest consumer in the world .

 

Oil futures fell about 0.8 % in New York . Factory production rose by 9.7 % , according to a report from the National Bureau of Statistics of China . It is lower than the median estimate for a 9.8 % rise in the Bloomberg survey and expansion in five months late . WTI closed the first weekly gain since December on January 17 amid signs of U.S. economic recovery continued , the country 's largest oil consumer in the world .

 

" China is a key movement of oil in the short term , said Robin Mills , the consultant at Manaar Energy Consulting and Project Management in Dubai . " It's important to continue to look for any signs of weakening . I think the demand in China more than sensitig to price movements in the U.S. and Europe . "

 

WTI oil for February delivery fell as much as 72 cents to $ 93.65 a barrel in electronic trading on the New York Mercantil Exchange , and is currently moving in the range of $ 93.85 at 10:24 pm . Oil for February contract which expires tomorrow , rose as much as 41 cents to $ 94.37 on January 17 , the highest close since January 2 . March futures contract fell by 65 cents at $ 93.94 . Smeua and contrast volume of futures traded around 24 % below the moving average of 100 days .

[mynameisandhy]

IEA : U.S. Crude Oil Production Rate Soars Up Continues

 

Tuesday, January 21, 2014

 

The level of U.S. crude oil production continues " looming rise " in 2013 , exceeding even the most bullish expectations , according to a report from the International Energy Agency ( IEA ) on Tuesday . As the U.S. toward energy independence , the IEA said that U.S. crude oil output for 2013 exceeded projections from last year around 455,000 barrels per day and said that " U.S. crude oil supplies in 2013 was recorded as the fastest annual growth rate of supply of all the countries in the two decades Last , rose as much as 15 % in the year 2013. "

 

This helps cushion the impact of the decline in the supply of other modern state , especially Libya and Iran . The report of the IEA is similar to reports from the Energy Information Administration ( EIA ) last December , when he said that the U.S. will continue to produce oil and natural gas in plentiful amounts at least until the year 2016 , with natural gas production levels are likely to be rising at least 2 the next decade . Many experts predict at this time the U.S. will be energy independent by 2020 .

[mynameisandhy]

Sales Rate Rise Over Iran Sanctions Oil subside

 

Wednesday, January 22, 2014

 

Level of Iran's oil exports rose in January for a third month, according to sources , adding to signs that the loosening of sanctions against Tehran pressure helps to recover the level of oil exports . The increase in export levels reached about 50,000 barrels per day , according to one source , which would make the level of Iran's oil exports to around 1.2 million barrels per day in January fatherly and add about 150 million dollars per month for Tehran's oil revenues .

 

The increase is not due to the small possibility of easing sanctions , which came into force on Monday , and exporters said they were still waiting for the ban on oil exports from Iran sanctions have been loosened . But international agreement , which was agreed in November to halt Iran's nuclear program , has been enlightening sentiment and reduce the risk for konsimen , pushing the level of Iran's oil exports .

 

" Revocation of oil export sanctions relieving pressure on Iran's oil sector , which is almost out for the surplus production capacity pengimpanan and danger of damage from the forced closure of oil refineries , " said Mark Dubowitz , of the Foundation for Defense of Democracies . " There will be a reduction in the transaction costs of crude oil delivery service . And Iran is able to stop relying on foreign ships to deliver the goods , give more capacity to transmit oil empty .

[mynameisandhy]

Oil Drops On Poor Data Central China

 

Thursday, January 23, 2014

 

West Texas Intermediate oil fell for the first time in four days amid speculation that fuel demand in China will slow after manufacturing unexpectedly contracted in the country 's second largest oil consumer in the world .

 

Oil futures today fell as much as 0.3 % in New York . Initial purchasing managers index in China fell more than estimated in January to its weakest level in six months , according to a private index report . Crude oil reserves in the U.S. , which is the largest consumer in the world , probably rose last week amid the oil refineries cut production , on show in a Bloomberg News survey before the release of a report by the Energy Information Administration on tonight .

 

" Weak Chinese PMI data will be interpreted at the demand slowdown in China's oil , " said Gordon Kwan , head of an oil and gas analyst at Nomura Holdings Inc. . , In Hong Kong . " Oil prices will move lower estimate after the departure of the cold weather in the U.S. Arctic Express . "

 

WTI oil for March contract slipped by 32 cents to $ 96.41 per barrel in electronic trading on the New York Mercantile Exchange and is currently traded at around $ 96.47 at 10:38 pm . The contract yesterday rose as much as $ 1.76 into $ 96.73 a barrel, the highest closing price since December 31 . The price of oil has fallen about 1.9 % so far this year .

[mynameisandhy]

Oil Gains In the Middle of Oil Reserves Drop Flute

 

Friday, January 24, 2014

 

West Texas Intermediate oil traded near its highest level in three weeks , preparing for the biggest weekly gain since December , after a report from the U.S. government yesterday showed declining oil reserves distilled

 

Oil this morning was little changed after rising as much as 0.6 % yesterday on the fourth day hike . Distilled oil reserves , which including heating oil and diesel , fell as much as 3:21 million barrels last week , according to the Energy Information Administration . Previous oil supply is projected to decline as much as 500,000 barrels , according to estimates in the survey results Bloomnerg . Refinery utilization fell to 86.5 percent of capacity , the lowest level since October , the EIA said in its report .

 

" A large fall in distillates and refinery operations indicate that the weather impact on production and demand more " than estimated , by market , said a senior analyst at Price Futures Group in Chicago , Phil Flynn today .

 

WTI oil for March contract is currently moving in the range of $ 97.53 per barrel in electronic trading on the New York Mercantil Exchange , rose as much as 21 cents, at 10:33 pm . Oil yesterday rose 59 cents to $ 97.32 , its highest closing level this year . The volume of all contracts traded was approximately 58 % below the moving average of 100 days . Oil prices have risen as much as 3.2 % from the date of January 17 , the highest increase in seven weeks .

[mynameisandhy]

Will China's Concerns , Oil Extends Weakness

 

Monday, January 27, 2014

 

Oil traded lower today , to a decline in two consecutive sessions due to fears of slowing growth in China , the second largest oil consumer in the world . China's economic growth is expected to slow gradually over the next two years following the Chinese government's structural reform and limiting the increase in debt levels .

 

A survey conducted by Reuters also showed China's economy is likely to slow down gradually within two years . For China's 2014 economic growth is estimated at 7.4 % . Pertumban will be the lowest rate of economic growth in China since 1990 .

 

"The Chinese government did the right thing , but China faced a sharp sword with two sides . If the economy of the gas pedal too hard it could risk creating a bubble , semenatar if slightly loosen the pedal on the risk of an economic slowdown . " Said Tony Nunan of Mitsubishi Corp. . in Tokyo .

[mynameisandhy]

WTI Oil Jumps On Cold Weather Central in the U.S.

 

Tuesday, January 28, 2014

 

West Texas Intermediate oil prices rose for the first time in three days as the extreme Arctic weather swept the U.S. , which is the largest oil consumer in the world .

 

Oil futures contract rose around 0.6 % in New Yorks after a two-day decline . The U.S. will freeze the temperature was minus 30 degrees Fahrenheit ( minus 34 Celsius ) for several regions across the plains to the north and east, according to reports from the National Weather Service in the bulletin yesterday .

 

" The weather is cold in the U.S. has helped to tighten up heating oil and propane market and create a regional supply tightness due to freezing , Goldman Sachs Group Inc. said . today in a research note .

 

WTI oil for March contract rose about 56 cents to 96.25 a barrel and is currently moving in the range of $ 96.04 at 17:29 pm in electronic trading in New York . The contract yesterday has decreased by 1 % to $ 95.72 , the lowest level since January 21 . The volume of all futures contracts traded around 32 % below the moving average of 100 days . Oil prices rose by 2.4 % last week , rising for a second week .

[mynameisandhy]

Oil Flat Ahead of Inventory Data and FOMC

 

Wednesday, January 29, 2014

 

Oil was flat on the day , ahead of the release of U.S. oil inventory data and the results of the FOMC policy meeting . On Tuesday , the American Petroleum Institute ( API ) reported that U.S. crude inventories rose 4.8 million barrels last week . While the Energy Information Administration ( EIA ) will today release of U.S. oil inventory data .

 

Yesterday oil jumped to almost $ 2 per barrel following the operation in stages expectations owned TransCanada Corp. Keystone pipeline . will flow more oil supplies from Cushing , Oklahoma to the Gufl Coast .

 

The Federal Reserve is expected to cut its bond purchases by $ 10 billion for the second time at this meeting . A survey conducted by Bloomberg say economists expect the Fed will continue mengurangis monetary stimulus in each meeting , and will put an end to the monthly bond purchase program this year .

 

Oil is currently trading at around $ 97.13 per barrel , with daily lows $ 96.99 , and the highest $ 97.34 .

[mynameisandhy]

Oil Jumps In Extreme Weather Central U.S.

 

Thursday, January 30, 2014

 

West Texas Intermediate oil rose , paring the biggest monthly decline for the month of January since 2010 , with increasing demand for distillates which reversed the decline in oil reserves for the second week in the U.S. .

 

Oil futures rose about 0.3 % in New York after slipping about 5 cents yesterday . Demand for distillates , which include heating oil among them , jumped to its highest level in nearly six years in the middle of the cold weather in the U.S. , the data in the Energy Information Administration show . Crude stocks rose as much as 6.4 million barrels last week , the EIA said . They were previously projected to rise by 2:25 million barrels , according to a Bloomberg survey .

 

" Statistics for this week is bearish and bullish for crude oil for production . " Said Michael Warner , head of oil market analyst at Societe Generale SA , the report email vias . The decline in oil reserves distilled " move is consistent with the cold weather in the northeastern part of the United States , " he said .

 

WTI oil for March contract moved in the range of $ 97.63 per barrel , up 25 cents , in electronic trading on the New York Mercantile Exchange at 15:53 ​​pm . The volume of all futures contracts traded in the range of 47 percent below the moving average of 100 days . Oil prices have dropped as much as 1.1 percent this month .

[mynameisandhy]

Oil Drops In Middle Market Opinion That Increase Too Overstated

 

Friday, January 31, 2014

 

West Texas Intermediate oil fell amid speculation that the rise in oil prices lately to the highest level this year looks excessive .

 

Oil futures declined by about 0.5 % in New York , cut reinforcement for the third week . Government data tomorrow may show China's manufacturing index will fall to its lowest level in six months , according to a Bloomberg survey . WTI oil will probably fall next week amid worries that the economy will slow in developing countries , which may limit demand for the fuel , according to a separate survey of economists and traders by Bloomberg .

 

" The traders were locking their profits , " said Michael McCarthy , chief analyst at CMC Markets in Sydney who predicts that investors may sell the contract WTI oil at around $ 98.50 per barrel . " Not only looks significant increase on the position of the oil but also the current approaching some technical resistance point . "

 

WTI oil for March contract fell by about 64 cents to $ 97.59 per barrel in electronic trading on the New York Mercantile Exchange , and is currently moving in the range of $ 97.82 at 16:27 pm . The contract rose as much as 87 cents to $ 98.23 a barrel yesterday , the highest closing level since December 31 . The volume of all futures contracts traded in the range of 44 % to move below the moving average of 100 days . Oil prices have risen as much as 1.3 % on the week while has dropped by 0.6 % in January .

[mynameisandhy]

Oil Drops On Outlook Will Slowing Chinese demand

 

Monday, February 3, 2014

 

West Texas Intermediate oil fell for a second day on speculation that fuel demand will shrink as China's slowing growth in the country which is the second largest oil consumer in the world .

 

Oil futures fell about 0.7 percent in New York , extending a decline of 0.8 per cent on January 31 . Purchasing managers' index was at 50.5 in January, down from the previous month was at 51.0 , the data will further enhance the growth outlook will be easing amid government efforts to rein in excessive credit , according to the national statistics bureau and China's logistics federation and purchases in Beijing on February 1 . The data is the lowest reading in six months . Manufacturing data from the U.S. and the Euro will be released today .

 

" The slowdown in China's economy , in line with the latest economic policies , adding to pressure on the majority of today's commodity prices , including oil , " said Andery Kryuchenkov , an analyst at VTB Capital in London .

 

WTI oil futures for delivery in March fell by about 71 cents in the range of $ 96.78 per barrel in electronic trading on the New York Mercantile Exchange and is currently engaged in a range of $ 96.90 a barrel at 16:53 pm . Oil prices have dropped about 1.5 percent in 2014.

[mynameisandhy]

At Level 96 In Oil Reserves U.S. Middle Looks Up

 

Tuesday, February 4, 2014

 

West Texas Intermediate oil traded near its lowest level in a week on speculation that rising oil reserves in the U.S., the world's largest oil consumer .

 

Oil futures contract was little changed in New York after falling into the deepest level in a month yesterday as U.S. manufacturing index fell more than forecast in . Crude stocks will probably rise about 2:25 million barrels last week , according to a Bloomberg survey of analysts before the official report released by the Energy Information Administration tomorrow .

 

" Data out of the U.S. showed that the condition was not as good as in the estimate when they present to the economy , " said David Lennox , a resource analyst at Fat Prophets in Sydney today . " It will have an impact on oil prices because the U.S. is the biggest consumer . "

 

Oil for March delivery moved in the range of $ 96.88 per barrel in electronic trading on the New York Mercantile Exchange , up 45 cents , at 16.30 pm . The contract yesterday fell as much as $ 1.06 becomes $ 96.43 , the lowest level since January 27 . Prices have dropped as much as 1.8 % this year .

[mynameisandhy]

Surging oil skyrocketed in the Middle Demand in the U.S. Due to Cold Weather

 

Wednesday, February 5, 2014

 

West Texas Intermediate oil rose for a second day on speculation that the U.S. government report will show the distilled oil reserves fell in the middle of the cold weather in the country , which is the largest oil consumer in the world .

 

Oil futures rose about 0.7 % in New York . Supply of distillates , which including heating oil and diesel , probably will shrink by 2.5 million barrels to 113.7 million barrels last week , according to a Bloomberg survey before the data released by the Energy Administration today . Meanwhile, in a separate report from industry indicates that oil reserves fell as much as 1:46 million barrels .

 

"Demand for refined oil may still be high , boosted by the extreme cold weather conditions in the U.S. , " said Mark Pervan , head of commodity research at Australia & New Zealand Banking Group Ltd. . , On this day . " It is estimated that oil reserves will decline further distilled . "

 

WTI oil for March contract rose as much as 91 cents to $ 98.10 a barrel in electronic trading daalam the New York Mercantile Exchange , and is currently moving in the range of $ 98.00 at 16:35 pm . The contract has mennguat as much as 0.8 % to $ 97.19 yesterday , stop losses for two days .

[mynameisandhy]

The fall in oil Stock Up As Oil Refining

 

Thursday, February 6, 2014

 

Nymex crude oil prices rose as a result of reports that oil refining stocks fell for 4 consecutive weeks with increasing demand due to poor winter weather in the U.S. . Stock refining oil fell as much as 2.36 million barrels into 113.8 million , according to the EIA report ; these larger -than-expected decline of 2.5 million . EIA also reported that U.S. oil inventories rise by only 200,000 barrels ; much less than predicted increase of 2.2 million and previous publications increased by 6.4 million barrels . Nymes oil traded at $ 97.49 in early Asia ; trying to stay away from low -level daily $ 97.21

 

The U.S. experienced a bad winter so as to encourage consumers to use more energy to keep warm and keep the body remain normal business activity . The bad winter weather is predicted to be felt but would not be so bad again in mid-February .

[mynameisandhy]

Oil Weakens Ahead of U.S. NFP data

 

Friday, February 7, 2014

 

West Texas Intermediate oil fell for the first time in four days amid speculation that the U.S. jobs data today will likely spur the Federal Reserve to maintain the reduction of bond purchases in the country 's largest oil consumer in the world .

 

Oil futures fell about 0.9 % at this time . U.S. payroll data for the month of January will probably grow faster than the previous month , according to a Bloomberg survey . Of services purchasing managers index in China slipped to its lowest level in more than two years . Meanwhile Brent was flat just a bit da amid declining oil production of Libya after protesters damaging the pipeline .

 

Oil " get a little push down after yesterday touching the highest level in five weeks and the poor Chinese PMI data this morning has also reduced further strengthening of oil , " said Michael Hewson , a market analyst at CMC Markets Plc . The Fed will continue the reduction of stimulus and " the only way that we did not get a further reduction of $ 10 billion in the month of March is when we really get bad economic reports , " he said .

 

WTI oil for March contract fell by 61 cents to $ 97.23 per barrel in electronic trading on the New York Mercantile Exchange and is currently engaged in a range of $ 97.43 at 18:05 pm . The contract yesterday rose as much as $ 1.45 becomes $ 98.83 , the highest level since 2 Januri day before in tutuo at $ 97.84 . The volume of all futures contracts traded around 9 percent below the moving average of 100 days .

[mynameisandhy]

Oil Perched Near High Level in 2014

 

Monday, February 10, 2014

 

U.S. crude oil futures consolidated near its highest level this year triggered by cold weather in the U.S. and the Federal Reserve's monetary plans uncertainty.

 

There are expectations that the Federal Reserve will reduce the rate of tapering stimulus after U.S. employment data are weak for two consecutive months in the last week, this has resulted in soaring oil prices on Friday and the position is likely still being held in earlier this week.

 

So far the price of U.S. crude oil futures fell slightly -0.16% at $ 99.71 per barrel, after reaching $ 100.46 intraday highs and lows daily at $ 99.11 per barrel.

[mynameisandhy]

Flat, Oil Inventory Data Hold and Boss The Fed Speech

 

Tuesday, February 11, 2014

 

Crude oil futures moved horizontally on Asian session today ( 11 / 02 ) . Investors are waiting for instructions to be calm because of the release of U.S. inventory data , the stability of the global demand - supply , and outcomes of economic growth .

 

On the New York Mercantile Exchange, light, sweet crude oil for March delivery was recorded at $ 100.29 per barrel , up slightly compared to the prices in the Globex electronic session . While Brent oil price variant for the same delivery month on the ICE Futures exchange - London rose $ 0.05 to $ 108.68 per barrel .

 

Having recorded an increase for five successive sessions , variants oil West Texas Intermediate ( WTI ) last year at the highest level in the overnight session yesterday . Improvement trend in oil prices is influenced by the high demand for heating fuel products in the United States . Extreme winter encourages increased volume of consumer demand for oil . At the same time the prospects are not too good supplies following the congestion distribution of oil through the pipeline in the area of ​​Cushing , Oklahoma .

 

Release of data that will drive the price on this night is oil inventory report published by the American Petroleum Institute . From the macroeconomic side , the sentiment which could potentially destabilize oil prices in the next few hours is a speech the new boss of the Federal Reserve Bank , Janet Yellen . He will express his views on the performance of the domestic economy and the policy execution has started tapering last January .

[mynameisandhy]

China Trade Figures Boost Oil Prices

 

Wednesday, February 12, 2014

 

Crude oil prices back perched on top leve $ 100 a barrel on Wednesday after Chinese trade data showed imports of ' black gold ' to record highs last month , boosted prospects for demand growth from the 2nd largest economy in the world .

 

Currently crude oil for March delivery was trading around 0.7 % higher at $ 100.65 per barrel range .

 

China's crude oil imports jumped 11.9 % in January from a year earlier , to reach a record high 28.16 tonnes or 6.63 million barrels per day , referring to customs data released Wednesday . The surge was largely fueled by PetroChina and Sinopec Sichuan which began operating refineries with a capacity of 300,000 barrels per day and Fujian refinery capacity of 280,000 barrels per day .

 

Positive Encouragement also came from reports the American Petroleum Institute ( API ) which showed U.S. crude inventories rose 2.1 million barrels in the week ending on February 7 . The figure is still below expectations for a rise of 2.5 million barrels analysts .

[mynameisandhy]

U.S. Economic Data Shadowing Outlook for Oil

 

Thursday, February 13, 2014

 

Crude oil prices slipped on Thursday after the release of U.S. economic data was weaker than expected inviting anxiety about energy demand growth prospects . Sentiment oil market participants also overshadowed concerns about the decline in consumption , which may be posed as U.S. refineries enter maintenance season .

 

Currently crude oil for March delivery traded at around $ 100 per barrel , or about 0.35 % below the closing price on Wednesday .

 

U.S. economic data released recently showed retail sales slumped 0.4 % at the beginning of this year . While the number of U.S. initial jobless claims also recorded an increase of 8,000 in the last week . Factors considered bad weather has affected to - 2 data, which has the potential to depress U.S. consumer spending further and in turn will have a negative impact on the outlook for oil demand .

 

However , a decrease in the price of ' black gold ' is still limited by solid Chinese trade data . China's oil imports reportedly climbed to a record high in January.

[mynameisandhy]

WTI oil Settle Above $ 100 After Weak U.S. Data

 

Friday, February 14, 2014

 

Crude oil prices slipped on Thursday , in the press by the estimated decline in demand for refinery maintenance season and rising claims for unemployment benefits in the United States , which is the largest oil consumer in the world .

 

Poor unemployment data in aggravated by weak U.S. retail sales data which shows that consumers are using their money to buy heating oil in the extreme cold weather this year . The data also weighed on U.S. stock markets and weighed on oil prices .

 

The weakening of the oil price in the limit by a report from the International Energy Agency ( IEA ) , which says that the oil reserves in developed countries fell by 1.5 million barrels per day in the last three months in 2013 in leading the largest quarterly level since 1999 .

 

Brent oil for March contract , which will expire on Thursday next week , moving flat below $ 109 a barrel , having closed up 11 cents in the previous session . April contract rose 13 cents to $ 108.48 .

 

WTI oil , ending with a rose 2 cents to $ 100.35 per barrel , before being dropped to the lowest level at $ 99.40 per barrel , below the average 200-day moving average at $ 99.51 .

 

WTI oil traded reached the highest level at $ 101.38 on Wednesday , its highest level since October 18 , after data showed TransCanada Corp 's pipeline started really pumping oil from the WTI delivery point in Cushing , Oklahoma .

[mynameisandhy]

Crude Futures Steady Above $ 100 Per Barrel

 

Monday, February 17, 2014

 

U.S. crude oil futures traded a choppy in Asian and European trading session on Monday as rising oil demand in winter and higher oil supply disruptions in the Middle East and Africa.

 

So far the price of Nymex crude oil for March contract rose 00:53% at $ 100.82 per barrel, after reaching its highest point at $ 101.13 and an intraday lows daily at $ 100.23 per barrel.

 

Once closed at a high level for 5 weeks in a row, the oil upward momentum is expected to fade if it breaks above the $ 101 per barrel, as profit taking. Another positive catalyst disruption of oil supplies from Libya amounted to 70,000 barrels per day due to the protests that forced the closure of the oil pipeline delivery pathway.

[mynameisandhy]

Oil Prices Rise As Economy Improvement in U.S. & China

 

Tuesday, February 18, 2014

 

Crude prices rise for first time scoring in 3 days as signs of U.S. economic recovery and record a new high in China strengthens lending demand outlook for the two countries in the world's biggest oil consumer . Oil rose as much as 0.6 % in the New York session . , Extending fifth weekly gain . The level of lending in China reached 2:58 trillion yuan ( 425 billion dollars ) in January , according to the statement of the People 's Bank of China on 15 Febaruari ago , signaling the momentum of economic growth pharmaceutics . Meanwhile the index of consumer sentiment by Thomson Reuters / University of Michigan is at 81.2 this month , exceeding economists' estimates at 80.2 .

 

" The high level of lending in China is good news , " said Tom James , managing director at Navitas Resources Ltd. . Dubai . " The signal improvement in the U.S. economy psychological help market and new loans in China is what is perceived by the market to push the level of demand . "

[mynameisandhy]

Oil Prices Skyrocket In Bad Weather Central

 

Wednesday, February 19, 2014

 

Oil prices soared on Tuesday , pushing U.S. crude oil prices to the highest level in more than four months as weakening the dollar , cold weather in the United States and concerns about threats to supply in the Middle East and Africa sparked buying oil . Supplies helped trigger anxiety , Libyan oil output is reduced , rebels in South Sudan said it had occupied the capital of oil-producing states and expectations of progress on nuclear discussions between Iran and world powers increasingly subsided .

 

Disturbances in supply also sparked a rally in Brent crude . Libyan oil production levels only reached 375,000 barrels per day as protests disrupt the flow of oil from one of the large refineries , according to the El Sharara , the state oil company , on Tuesday . On Sunday last , the output reached 390,000 barrels per day . Also adds to the anxiety of supply , rebels in South Sudan said it had occupied the state capital of oil-producing Upper Nile , Malakal , on Tuesday . Oil also found support from the International Energy Agency's report last week that showed oil supplies in developed economies has scored the sharpest quarterly decline since 1999 in the last quarter of 2013 . U.S. oil supply report will be released this week .