All About Commodity

[mynameisandhy]

Oil Optimistic Ahead of U.S. Supply Data

 

Wednesday, April 30, 2014

 

Oil rebounded on Tuesday , lifted by geopolitical concerns and ahead of the release of U.S. oil supply data . The day after the recovery prospects of Libyan crude oil supplies sparked the biggest daily decline in nearly a month . Hope loosening of sanctions against Iran this year , allowing the Islamia Republic to sell more oil , eroded after the United States accused the company of China and Dubai secretly helping Tehran to evade sanctions and the oil weapon . It sends a signal that Washington will keep the pressure on Iran over its nuclear program .

 

In the U.S. , investors will be looking forward to the latest oil supply data . Supply of crude oil at Cushing , Oklahoma , which touched a low of 5 years , helping the premium between Brent and U.S. crude narrowed as new pipelines have diverted destination delivery West Texas Intermediate crude to the Gulf Coast . However, the number of U.S. crude supply is expected to hit a new high , with an estimated increase of 1.9 million barrels last week . Supply of crude oil reached 397.7 million barrels last week , the highest level since counting began over 30 years ago .

 

The dispute between Russia and the West related Uraina also not showing signs of abating , adding to fears that the conflict will lead to disruption in oil supply due to tighter sanctions . Hundreds of pro - Russian separatists stormed the headquarters of the regional government in the town of the eastern regions of Ukraine , Luhansk on Tuesday , gaining access by breaking a window and did not face resistance from police .

[mynameisandhy]

Negative sentiment besieged , Oil Continue Decline

 

Thursday, May 1, 2014

 

Crude oil prices slipped to its lowest level in 4 - weeks on Thursday , triggered by weak Chinese economic data , the potential increase in Libyan oil supplies and record high U.S. inventories .

 

Chinese economic data released earlier today showed manufacturing index recorded only a slight increase in April . Which reinforces the expectation of continuing economic slowdown in the largest oil consumer in the world - 2 , as a result of the depreciation of the property sector and structural reforms .

 

Negative pressure is also presented by the U.S. weekly data showed U.S. crude supplies jumped to a record high last week . Energy Information Administration report showed U.S. crude stockpiles rose 1.7 million barrels , just under 400 million barrels . It is the largest volume since 1982 , when the EIA begin data collection .

 

While the global supply of crude oil is expected to increase over the operation of the port will be back on the east Zueitina , Libya , earlier this month , after being closed for nearly 10 months as a result of the protests .

 

Investors tend to ignore the U.S. Federal Reserve's policy decision on Wednesday , which again produces a monthly stimulus program cuts of $ 10 billion . They chose to focus more on signs of recovery in progress on the economy at the same time the world's biggest oil consumer , to await U.S. jobless claims data on Thursday and Non Farm Payrolls on Friday .

[mynameisandhy]

U.S. Manufacturing Data Supports Oil Rebound

 

Friday, May 2, 2014

 

WTI Crude oil rebounded from a six- week after data showed U.S. manufacturing activity , provide optimism for increased oil demand from the largest consumer of oil in the world .

 

Previous oil continued to decline after the Energy Information Administration reported U.S. oil inventories in the week ended 25 April rose 1.7 million barrels to 399.4 million barrels . The inventory number is a record since the EIA began reporting weekly oil inventory in 1982 .

 

China's manufacturing activity , the second largest oil consumer in the world , showed an increase to 50.4 in April , from 50.3 in the previous month , but still below estimates of 50.5 . The figure also put pressure on the oil price movement today.

 

Oil finally able to get up after the Institute for Supply Management released the index of U.S. manufacturing activity rose to 54.9 in April from 53.7 the previous month sebesat , and above economist estimates of 54.3 . 17 of the 18 industries that ISM reported observed accelerated in April , the last time the entire industry expansion occurred almost three years ago .

 

WTI Crude oil is currently trading at around $ 99.48 per barrel , after touching $ 98.72 daily lows and highs $ 99.86

[mynameisandhy]

Oil Concerned With Situation Ukrainian

 

Monday, May 5, 2014

 

Oil prices rose after the deterioration of the situation in Ukraine raised concerns that the West can provide additional sanctions on Russia , the world's largest oil producer . Pro - Russian militants stormed the police headquarters in Odessa and freed nearly 70 pro - Russian activists who have been detained . This action occurs after the weekend dozens of pro- Russian activists were killed in military operations Ukrainian government . EU and U.S. expressed disappointment over the attitude of Russians who can not run the Geneva pact and threatened additional sanctions if the situation in Ukraine continues to deteriorate .

 

Anxiety over the deteriorating situation of Ukraine managed to offset concerns about the outlook for oil demand of China , the largest energy consumer in the world 2 . Investors had worried the Chinese economy after data HSBC showed China's manufacturing sector contracted for the fourth consecutive month in April. Nymex crude oil is now trading at $ 100.34 early London session ; away from low -level daily $ 99.68

[mynameisandhy]

Oil Weakens for Second Day Before Report from EIA

 

Tuesday, May 6, 2014

 

West Texas Intermediate oil slipped for a second day amid speculation that crude oil reserves are currently at record highs will increase further in the U.S. , which is the largest oil consumer in the world .

 

Oil futures fell about 0.1 % in New York after dropping 0.3% yesterday . U.S. crude stocks likely to go up as much as 1 million barrels last week to be 400.4 million barrels, according to a Bloomberg News survey before the release of a government report tomorrow . That would be the highest level since the Energy Information Administration ( EIA ) began to give weekly reports in 1982 . Libyan oil production fell amid continued closure of oil refineries by the demonstrators .

 

WTI Oil for June contract moved in the range of $ 99.39 per barrel , down by 9 cents , in electronic trading on the New York Mercantile Exchange at 9:11 pm . The contract fell by 28 cents to $ 99.48 yesterday . The volume of all futures contracts traded around 87 % below the moving average of 100 days .

[mynameisandhy]

EIA report catapulted Oil Price

 

Wednesday, May 7, 2014

 

Crude oil prices soared to the highest level in 6-days after the release of the U.S. government's weekly data showed a surprise decline in oil inventories last week. Report of the Energy Information Administration (EIA) showed U.S. crude stocks plunged 1.8 million barrels in the week ended May 2. Analysts had previously forecast U.S. crude supplies rose 900,000 barrels.

 

In the same occasion EIA also reported gasoline supplies rise by 1.6 million barrels, which confront the expectations of a decline of 900,000 barrels. While oil distillate stocks recorded a decline of 400,000 barrels.

 

Currently the price of crude oil for delivery in June traded at around $ 100.80, or about 1.1% higher than Tuesday's closing price.

[mynameisandhy]

Oil Soar Over Drop In U.S. Oil Reserves

 

Thursday, May 8, 2014

 

West Texas Intermediate oil traded near its highest level in a week after oil reserves dropped for the first time in more than a month in the U.S. , which is the largest oil consumer in the world .

 

Oil futures contract was little changed today after rising 1.3% yesterday . Oil reserves slipped as much as 1.8 million barrels last week as supplies in Cushing , Oklahoma , which is the delivery point of WTI , fell to the lowest level since 2008 , according to a report from the Energy Information Administration . Russian President Vladimir Putin appealed to the separatists in Ukraine to postpone the elections for the autonomy and said that he will withdraw his troops from the border states .

 

" There may be seasonal factors underlying the decline in oil reserves , " said Michaek McCarthy , chief analyst at CMC Markets in Sydney who predicts investors will probably sell WTI contract if the price rose to $ 103 per barrel . " Cushing's picture may be slightly disturbed at the fact that we have a new infrastructure in place . Easing the chaos in Ukraine , seems to be quite good for the price of oil . "

 

WTI Oil for June contract moved in the range of $ 100.79 per barrel , up by 2 cents, in electronic trading on the New York Mercantile Exchange at 8:49 pm . The contract rose $ 1.27 into $ 100.77 yesterday, the highest closing level since April 29. The volume of all futures contracts traded around 50 % below the moving average of 100 days . Oil prices have increased by 2.4 % this year .

[mynameisandhy]

Oil Gains , Still Sustains Reports Decline In Reserves

 

Friday, May 9, 2014

 

West Texas Intermediate oil to the first weekly gain since April as crude stocks fell for the first time in more than a month in the U.S. , which is the largest oil consumer in the world .

 

Value of oil futures contracts are little changed this morning after falling as much as 0.5 % yesterday . Oil reserves fell as much as 1.78 million barrels last week as inventories in Cushing , Oklahoma , which is the delivery point for WTI , fell to the lowest level since December 2008 , on show in the report of the EIA . Meanwhile, the report that the government of Ukraine in Kiev renews offer of dialogue with representatives of the eastern region along Russia's military training .

 

" The decline in oil reserves was a surprise ; I expect there will be an increase in oil reserves , " said Jonathan Barratt , chief investment officer at Sydney Ayers Alliance Securities, which mempredikis investors may be selling WTI contract if the price reaches $ 101 per Barek . " The tension seems to have eased in Ukraine . "

 

Oil for June contract moved in the range of $ 100.40 per barrel in electronic trading on the Nymex , rising as much as 24 cents, at 8:40 pm . The contract fell by 51 cents to $ 100.26 yesterday . The volume of all futures contracts move about 24 % below the moving average 100 ahri . Oil prices have gained 0.6% after weakening for two weeks .

 

Oil reserves fell to 397.6 million Barek in seven-day period ended May 2 , in the report by the EIA on May 7. Oil reserves are projected to rise before 1:25 million , according to a Bloomberg survey . Previous oil reserves rose to 399.4 million barrels , the highest level since merupakann U.S. Department of Energy publishes a weekly report in 1982.

[mynameisandhy]

Stuck Range Trading , Oil Weakens

 

Monday, May 12, 2014

 

WTI crude oil fell and stuck in a trading range on Friday , the market got support balance of the decline in U.S. oil inventories against selling technical point that dampen oil's rally .

 

Russian President , Vladimir Putin , visited the Crimea for the first time after being taken over from the Ukraine , the move angered Ukraine and western puhak . Meanwhile, Minister of Internal Affairs of Ukraine , Arsen Avakov , said the Ukrainian military forces killed 20 insurgents in Mariupol Pro - Russian , separatist groups in eastern Ukraine will hold its own referendum on Sunday , which is equally harmful re- create the war with Ukraine , the separatist group also ignore requests Putin to delay the referendum .

 

Oil is at the narrow trading range around $ 2 during the week , bejuang to penetrate the 200 day MA at the level of $ 100.48 and received a daily 100 MA support at $ 99.44 . The strengthening of the dollar , and traded at a one- week high against major currencies increases the pressure on dollar-denominated oil , because it becomes more expensive when the dollar strengthened .

[mynameisandhy]

Stopping Oil Decline 2-session losing streak

 

Tuesday, May 13, 2014

 

Oil prices managed to increase the first day in the last 3 days amid continued uncertainty in Ukraine. But the news that says that Saudi Arabia has agreed to cover any shortage of supply that may result from the shock still limit price increases.

 

Strengthening the 'black gold' also restrained as Libya announced the re-operation fields and oil pipelines in the western part of the country, after the demonstrators ended their blockade of the main infrastructure. Potentially boost Libyan oil output by 500,000 barrels per day.

[mynameisandhy]

Oil Soar reserves Over The fall in In Cushing

 

Wednesday, May 14, 2014

 

West Texas Intermediate oil rose for a third day , this is the longest rally in more than three weeks , after an industry report showed crude stocks fell at the refinery the largest hub in the United States .

 

Value of oil futures contract rose as much as 0.4 % in New York . Crude stocks at Cushing , which is the delivery point of WTI oil , shrank by 590,000 barrels last week , in the report by the American Petroleum Institute said yesterday . National supply may not be changed in the range of 397.6 million barrels , it was close to the highest level , on show in a Bloomberg survey before the Energy Information Administration data released today . Ukrainians fought on a " war not declared " the Russian defense minister said while Ukraine Mykhaylo Koval .

 

" Oil prices have gained momentum from a report showing a drop in oil inventories at Cushing , " said Amrita Sen , chief oil market analyst at Energy Aspects . Ltd. in London . "Impairment " occurs as a backup at Cushing is near the minimum operating level . "

[mynameisandhy]

IEA Estimate OPEC Oil Demand Will Increase

 

Thursday, May 15, 2014

 

The level of demand for OPEC crude oil will increase in the second half of this year from a previous estimate of the supply line in the developed world are still vacant , according to the International Energy Agency . Organization of Petroleum Exporting Countries will have to provide an average of approximately 30.7 million barrels per day in the second half , or 800,000 barrels per day higher than the output last month , according to the IEA , and rose by 140,000 barrels from the IEA forecast in April as the level of demand higher than estimates made ​​oil supply tightens in developed countries . OPEC controls about 40 % of the global oil supply .

 

" Projections show a significant increase in OPEC production levels from current levels for the second half of this year , " according to a monthly report on the Paris -based IEA . " While OPEC has more than enough capacity for it undertakes , but whether OPEC can overcome obstacles in the past a number of member states . "

[mynameisandhy]

Oil Towards Weekly Increase

 

Friday, May 16, 2014

 

WTI crude oil traded higher and towards minggguan biggest rise in five weeks. The possibility of re- escalation of tensions in Ukraine ahead of the presidential election on 25 May still prop up the price of oil . In addition to the increase in U.S. manufacturing activity also gives the prospect of an increase in oil demand in the world's biggest oil consumer is .

 

U.S. Secretary of State , John Kerry , saying the U.S. and the European Union to impose sanctions on the Russian economy , if the state leadership of Vladimir Putin disrupt the presidential elections in Ukraine . Ukrainian military forces near the city of Donetsk was warned by separatist groups would face attack if they do not withdraw on Thursday .

 

Index of manufacturing activity in the New York area this month jumped sharply to 19.0 from the previous month at 1.3 and above estimates of 5.5 . While manufacturing activity in the Philadelphia region fell to 15.4 from 16.6 the previous month , but still better than the estimate of 13.9 .

 

Energy Information Administration said OPEC oil supply is estimated to need to provide as many as 30.7 million barrels per day in the second half of this year , or more than 800,000 barrels produced in the last month

[mynameisandhy]

Oil Soar Above troubled In Ukraine And Libya

 

Monday, May 19, 2014

 

Oil futures rose on Monday , driven by continued unrest in Ukraine and the turmoil in Libya .

 

WTI Nymex crude oil rose as much as 68 cents , or 0.6 %, to $ 102.70 per barrel . Oil rose as much as 2 % in the last week , finding support on Friday for strong U.S. economic data and the anticipation of the start of the driving season in the summer .

 

" Oil rose back ( middle ) unrest in Ukraine and Libya , in talks with Iran when there is no real progress . Rise in the risk premium back to help in the purchasing of oil continues against the backdrop of a weakening dollar , " said Phil Flynn , senior market analyst at Price Futures Group in Chicago .

 

Brent crude , which is the European oil benchmark , rose by 31 cents , or 0.3 %, to $ 110.04 .

 

" It seems like every time you think that you can rely on exports to Libya to begin to move better , you do not count on it," said Flynn . German officials warned over the weekend that Russia would face additional sanctions if Moscow interfere Ukrainian presidential election on May 25. Meanwhile , Russian President Vladimir Putin ordered his troops engaged in military exercises on the border of Ukraine to return to their headquarters and asked to Kiev to immediately withdraw its troops from the eastern regions of Ukraine , in the report by the Wall Street Journal .

[mynameisandhy]

Oil Maintain Gains on Asian session

 

Tuesday, May 20, 2014

 

WTI crude oil maintains reinforcement in Asian trade this morning , geopolitical turmoil still form the backbone strengthening oil prices . Meanwhile oil inventories at Cushing , the delivery hub oil contracts , is expected to decline , could provide a boost to oil prices .

 

Libyan rebels stormed back flare up after the Libyan parliament building . Ajazair oil company , Sonatrach , asking workers to return from Libya due to security instead , while the French oil company , Total , though not evacuate its staff , but the company is reducing visits to Tripoli , capital of Libya .

 

A spokesman for the National Oil ( NOC ) owned by the Libyan government said oil output from Libya is currently at 210,000 barrels per day , well below that produced in mid-2013 at 1.4 million barrels per day . NOC spokesperson also said the El Sharara oil field and the El Feel unopened , though the government says the closure action by demonstrators in the field has ended .

 

Meanwhile in a different place , the Russian president , Vladimir Putin , ordered his troops are said to be close to the border with Ukraine to return to base , but NATO and the U.S. say they do not see any signs of withdrawal of the Russian forces , and Moscow has failed to implement promises to keep the situation in Ukraine .

 

The American Petroleum Institute will release its oil inventory data today , while the U.S. Energy Information Administration will release tomorrow . Oil inventories at Cushing is expected to decline again after last week's EIA report inventories at Cushing for the week ended May 9 fell as much as 23.4 million barrels .

 

WTI Crude oil is currently trading at around $ 102.17 per barrel .

[mynameisandhy]

Oil prices Perched Above $ 103 Ahead of EIA report

 

Wednesday, May 21, 2014

 

Oil prices perched above the level of $ 103 per barrel on Wednesday as traders attempt to anticipate the weekly inventory report from the Energy Information Administration , after data from an industry group showed a decrease in inventories more than expected .

 

Currently crude oil for delivery in July traded at around $ 103.15 , or about 0.7 % above yesterday's closing price .

 

American Petroleum Institute ( API ) on Tuesday evening said that if U.S. crude oil supplies fell 10.3 million barrels during last week , which broke expectations of a decline of 300,000 barrels . While EIA is scheduled to release the official figures in U.S. crude inventories at 21:30 pm tonight .

 

The focus of the oil market participants will also be fixed on the release of minutes of the Federal Reserve's last policy meeting , as well as all the latest developments from the turmoil in Ukraine and Libya .

[mynameisandhy]

China Data Extend Strengthening Oil

 

Thursday, May 22, 2014

 

WTI crude oil traded higher in Asian session today after China's manufacturing activity data diirilis better than estimated , providing optimism over rising oil demand from the second largest consumer in the world . To this day the oil has been rising for five consecutive days , and has risen in eight of the last nine days .

 

Data released by Markit / HSBC PMI shows China's manufacturing activity index in May was 49.7 higher than the estimate of 48.4 , and from 48.1 the previous month . Although readings below 50 still indicates a contraction , but in the last five months of manufacturing activity in May was the highest .

 

In yesterday's trading sharply higher oil after the EIA reported U.S. oil inventories for the week ended May 16 fell by 7.2 million barrels to 391.3 million barrels , much larger than expected decline of 100,000 barrels and previous publications are increased 0.9 million barrels .

 

Oil is currently trading at around $ 103.95 per barrel , after touching daily highs and lows $ 104.08 $ 103.64

[mynameisandhy]

Oil Towards Strengthening streak Three Week

 

Friday, May 23, 2014

 

WTI crude oil traded flat in the Asian session today , but it will most likely be recorded strengthening in three consecutive weeks . Oil overshadow positive sentiment this week , making the oil had raced and traded above $ 103.00 per barrel .

 

Data released by Markit / HSBC on Thursday showed China's PMI index of manufacturing activity in May was 49.7 higher than the estimate of 48.4 , and from 48.1 the previous month . Although readings below 50 still indicates a contraction , but in the last five months of manufacturing activity in May was the highest .

 

In addition Markit also released U.S. data on manufacturing activity in May rose to 56.2 from 55.4 the previous month , and above analyst estimates of 55.6 . The increase in the month of May , the first after falling in the previous two months . The increase in manufacturing activity in the two largest oil consuming country in the world gives the prospect of rising oil demand .

 

Furthermore Energy Information Administration on Wednesday reported U.S. oil inventories for the week ended May 16 fell by 7.2 million barrels to 391.3 million barrels , much larger than expected decline of 100,000 barrels and previous publications are increased 0.9 million barrels .

 

Oil is currently trading at around $ 103.77 per barrel , with daily lows and highs $ 103.61 $ 103.80

[mynameisandhy]

Action Profit-Taking Weight the Oil

 

Monday, May 26, 2014

 

Record oil thinner weaker in the Asian session as the emergence of profit-taking after recent strong rally. Development of the situation in Ukraine and China prompted investors to secure profits as oil near a 2 month high. The election of the President of Ukraine Petro Poroshenko has raised hopes about the situation in Ukraine. Poroshenko has uttered separatist party will try to embrace and normalize relations with Russia, a major gas supplier to Ukraine.

 

Meanwhile, investors are also worried about the outlook for China's energy demand after Beijing announced plans to slow the rate of energy consumption. China's State Council is planning to cut the ratio of energy consumption as much as 3.9% of GDP for 2015. China will also accelerate the development of environmentally friendly energy sources. Nymex crude oil is now traded at $ 104.04; away from daily highs $ 104.30

[mynameisandhy]

Brent Oil Drops Along The election of Ukraine's New President

 

Tuesday, May 27, 2014

 

Brent crude oil prices fell amid speculation that the outcome of the election of President of Ukraine may help ease tensions with Russia, which is the country's largest energy exporter. West Texas Intermediate oil on the New York slip.

 

Oil futures contract fell by 22 cents in London. Petro Poroshenko, a Ukrainian billionaire, who yesterday was elected as President, have a duty to quell the chaos caused by the separatists in the country, as well as the reopening of supply for oil and Russian gas to Europe. China, which is the second-largest global oil consumer, announced plans to slow down energy consumption.

 

"There is quite a long time on the political vacuum in Ukraine, and it should immediately start to finish," said Ole Hansen, chief commodities analyst at Saxo Bank A / S in Copenhagen on Monday. "News of Ukraine has helped slightly lower oil prices," he said, she also gives an overview on Poroshenko is "someone who can sit down together with Russia to try to resolve their differences."

 

Brent oil for July settlement to end the session at $ 110.32 a barrel on London's ICE Futures Europe exchange. Trading volume was 87% below the moving average of 100 days. Prices have dropped by 0.5% this year.

 

WTI Oil for July contract fell by 17 cents to $ 104.18 per barrel in electronic trading on the New York Mercantile Exchange. The market is closed on Monday for the Memorial Day holiday, and the transaction will be written off tomorrow for the purpose settlement.Premi be $ 6.14 WTI against Brent. Premium closed at $ 6.19 on May 23, it is the smallest level in five days.

[mynameisandhy]

Moving Oil Flat Ahead of Inventory Report API

 

Wednesday, May 28, 2014

 

Oil edged higher on Wednesday, as a wait-and-see investors ahead of U.S. inventory stock data which can be decisive for the movement of oil passes $ 105 per barrel level.

 

From the API inventory report estimated the rate of recovery of U.S. oil imports from the lowest level since January 1997.

 

Another positive catalyst supported by the Ukrainian East conflict that Russia would respond by sending humanitarian aid despite the Ukrainian government to block the entry of Russia into the territory of Ukraine.

 

So far the price of U.S. crude oil futures flat at $ 104.06 a barrel, after reaching its highest point at $ 104.39 and an intraday lows daily at $ 104.01 per barrel

[mynameisandhy]

Opportunity Buy On Dip Oil If There weakening

 

Thursday, May 29, 2014

 

Oil prices managed to bounce off an intraday low of $ 102.68 per barrel as bargain hunting ahead of the weekly report on oil stocks from the U.S. EIA is expected to show an increase of 100,000 barrels .

 

Overall factor in the oil supply-demand is still quite balanced , stronger demand expectations ahead of the upcoming summer season was offset by the abundance of oil output from Iraq . Some oil companies also projected U.S. and China can maintain stable oil output by 2.4 million barrels per day for the period of May to August , to meet the level of demand .

 

So far the price of U.S. crude oil futures contract for July edged 0:14 % at $ 102.86 a barrel , away from daily lows at $ 102.68 per barrel , the highest point at $ 103.11 intraday .

 

Technically , the trend of oil for the next few weeks are likely still bullish as long as price stay above 99.70 area , but in the short term correction scenario is still open opportunities down especially after the price failed to break above 104.50 resistance level . Swing downward correction will be confirmed if the price of gold managed to break below 102.65 area ( 38.2 % Fibonacci ) , to further test the 50 % Fibonacci support at the 61.8 % Fibonacci 101.65 or at 100.95 . Where the correction to the level at the same time will provide an opportunity buy on the dip , because the overall oil still tend to rally to the 105.20 swing high targets .

[mynameisandhy]

Oil Prices Stay on the Path to Increase Monthly

 

Friday, May 30, 2014

 

Although the move is likely to weaken in early trading session on Friday , the price of crude oil still persist on the path to a monthly rise as the escalation of geopolitical tensions in Ukraine and Libya maintain anxiety about supply disruptions .

 

Currently crude oil for July delivery contract offered in the range of $ 103.45 , or about 0.15 % below the closing price on Thursday .

 

Crude oil prices managed to close higher for the first time in four sessions on the session yesterday after a U.S. government official data showed gasoline stocks fell sharply , which is weighing on the overall crude inventories . Report of the Energy Information Administration ( EIA ) showed U.S. crude stockpiles rose 1.7 million barrels last week . However, strong demand at the beginning of the summer driving season gasoline inventories have eroded as much as 1.8 million barrels .

 

In terms of geopolitics , the chaos in Libya is getting worse with increasing uncertainty about who will be the leader of government . Potentially triggering violence between warring factions . While the pro - Russian separatist rumored to have shot down a U.S. military helicopter Ukraine on Thursday , killing 14 soldiers , including a general.

[mynameisandhy]

China Manufacturing Restore Oil

 

Monday, June 2, 2014

 

Record oil thinner strengthening in Asia after Chinese manufacturing data to make sure investors will be improvement in the outlook for China's energy demand. China's manufacturing index rose to 50.8 for the month of May; better than expected 50.7 and 50.4 April publication. This is a Chinese manufacturing index is the highest in the last 5 months and provides hope for the continued momentum of economic growth in the world's biggest 2.

 

Meanwhile, Iraq threatened to take legal action against buyers who buy oil from oil pipelines autonomous region of Kurdistan. On the other hand, a Reuters survey showed OPEC oil output has risen to its highest level in 3 months with increasing supply is from Angola and Iraq who successfully balance the political turmoil in Libya. Nymex crude oil is now trading $ 103.01; just one week away from the low level achieved $ 102.38 last Friday

[mynameisandhy]

Libyan Crisis Predicted to Maintain Performance Oil

 

Tuesday, June 3, 2014

 

Geopolitical crisis is still a driving force in world crude oil prices in 2014. Lack of stability in the administration of Libya is one issue that is prone to shake up the commodity market.

 

The civil war in Libya has been eroded portion of world oil supplies. Now the production of the country recorded 86% lower than the volume of supply before the war, which reached 1.6 million barrels per day. Not only that, the production rate is not expected to recover until next year.

 

According to investment bank Barclays, the political conflict in Libya will keep production volumes remain unstable so the drop in oil prices is hard to occur in the near future. "Libya will be a 'bad boy' who overshadow the movement of oil prices in 2014 until 2015," commentator Barclays in a release. Nymex WTI oil contract was recently up 15 cents at $ 102.62 this afternoon.