All About Commodity

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WTI Oil Moves In Near High Level Backup Data Before the week

 

Tuesday, September 16, 2014

 

West Texas Intermediate oil traded near the highest level in more than a week before the release of the data supply sinyalkan strong demand for fuel in the United States, which is the world's largest oil consumer.

 

Oil futures were little changed in New York after yesterday rose by 0.7%. Crude stocks likely to shrink as much as 1.5 million barrels last week to 357.1 million, according to a Bloomberg News survey before the release of data from the Energy Information Administration tomorrow.

 

Distilled oil reserves, which including diesel and heating oil, rose as much as 750,000 barrels, the survey showed.

 

WTI oil for October move in the range of 92.70 per barrel in electronic trading on the New York Mercantile Exchange fell as much as 22 cents at 8:28 pm. The contract yesterday rose by 65 cents to $ 92.92, it is the highest closing level since 5 September. Prices have dropped as much as 5.7% this year.

 

US gasoline inventories probably fell as much as 425,000 barrels during the week ended Sept. 12, according to the median estimate of eight analysts in a Bloomberg survey. The industry group American Petroleum Institute is scheduled to release a separate supply data by the end of today's trading hours.

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WTI Oil Rises Back Up Plan OPEC

 

Wednesday, September 17, 2014

 

West Texas Intermediate oil traded near its highest level in nearly two weeks after OPEC Secretary General said that this group may reduce production targets next year.

 

Oil futures were little changed in New York after yesterday rose by 2.1%. Daily production targets Organization of Petroleum Exporting Countries (OPEC) may be down as much as 500,000 barrels to 29.5 million barrels in 2015, said Abdalla El-Badri, OPEC secretariat in Vienna. One of the US general said that he would support the mengiriman advisor to accompany Iraqi troops into battle to fight if necessary ISIS.

 

"Production cuts seem reasonable," said Jonathan Barratt, chief investment officer at Ayers Alliance Securities in Sydney. "Members of OPEC spare capacity will likely remove and tighten the market for three to four months ahead. Saudi Arabia We've seen do that."

 

WTI oil for October delivery moved in the range of $ 94.70 in electronic trading on the New York Mercantile Exchange fell as much as 18 cents at 8:51 pm. The contract yesterday rose by $ 1.96 into $ 94.88, it is the highest closing level since 3 September. Prices have dropped as much as 3.8% this year.

 

OPEC officials, which included Saudi Arabia's oil minister Ali-Naimi, said that they do not see an urgent need in response to falling oil prices. Price "has always fluctuated and this is normal," said Naimi told reporters in Kuwait on September 11. Oil will recover as demand for winter fuels will rise, in saying by Kuwaiti oil minister Ali al-Omar. OPEC will meet next on November 27th.

 

Saudi Arabia reducing oil supply as much as 480,000 barrels per day in August, it was the biggest reduction since the end of 2012.

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Data Supply USA Weight the Crude Oil Prices

 

Thursday, September 18, 2014

 

Oil prices turned down on Wednesday, as an unexpected increase in crude supplies offset the expectation that the Organization of the Petroleum Exporting Countries (OPEC) will help reduce the excess supply of global oil output cut. Department of Energy reported crude oil supplies rose as much as 3.6 million barrels last week, more than data from the American Petroleum Institute that showed a rise sebanayk 3.3 million barrels in crude supplies. Both figures are well above analysts' expectations for a decline of 1.6 million barrels.

 

Oil prices tumbled to their lowest level in 26 months this week due to the increase in supply and signal slowing rate of growth in oil demand in Europe and China, but managed to score a rally after OPEC Secretary General Abdullah al-Badri said OPEC may cut output target of 200,000 barrels in 2015 per day. Many OPEC members who want the oil prices are above $ 100 per barrel in order to meet the needs of its budget, and according to analysts Saudi Arabia, OPEC's largest oil producer, may cut production levels in an attempt to shore up prices. Rate cuts by OPEC, which will meet in November, will be the first time since 2008.

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Oil Toward First Weekly Increase Since OPEC Official Statement

 

Friday, September 19, 2014

 

West Texas Intermediate oil headed for its first weekly increase this month as the Organization of Petroleum Exporting Countries (OPEC) to cut production to consider next year.

 

Futures contract was little changed in New York, preparing for an increase of 0.8% on the week. OPEC, which supplies a group of about 40% of the world's oil, may reduce their daily production target of 500,000 barrels to 29.5 million in 2015, in the report by the Secretary General of OPEC in Vienna on September 16. Libya's Sharara stop production at the refinery, which is the largest refinery in Libya, after a rocket attack connected to the Zawiya refinery, such attacks threatened oil production of the OPEC members fell by 30%.

 

WTI oil for October contract moved in the range of $ 93.03 per barrel in electronic trading on the New York Mercantile Exchanghe, fell by 4 cents at 8:58 pm. The contract slipped by $ 1.35 into $ 93.07 at the time of yesterday, that was its lowest closing level since Sept. 15. Prices have dropped by 3.9% in the first two weeks of this month.

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Brent Weakens Before Data of China, WTI Stable

 

Monday, September 22, 2014

 

Brent oil fell for the third time in four days before publication of manufacturing data from China, which is the second largest oil consumer in the world. Meanwhile WTI move stable in New York.

 

Brent futures contract fell as much as 0.5% in London. Chinese factory production index is likely to be at 50 in September, at the show in a Bloomberg News survey before the initial report them reading from HSBC Holdings Plc tomorrow. According to the survey, the results will be down from a reading of 50.2 for August level. Libya was pumping 700,000 barrels of oil per day after production has been reduced in refinery Sharara, according to a report from the National Oil Corp.

 

"There is some downward momentum in the market outlook for the Chinese economy at this time," said Ric Spooner, chief analyst at CMC Markets in Sydney today. "The news from China has consistently weakened lately."

 

Brent oil for November settlemen fell as much as 49 cents to $ 97.90 a barrel on the ICE Futures Europe exchange in London and is currently moving in the range of $ 97.91 today. Prices have dropped as much as 12% this year.

 

Oil for October, whose contract expires today, slipped as much as 20 cents to $ 92.21 per barrel in electronic trading on the New York Mercantile Exchange. Active contract in November moved down 23 cents at $ 91.42 range. Brent premium to WTI oil was at $ 6.50 in the same month, compared with $ 6.74 on September 19.

[mynameisandhy]

Chinese Weight the Oil Price

 

Tuesday, September 23, 2014

 

WTI crude oil fell more than $ 1 on Monday, due to excess oil supply and fears of lower demand from Europe and China.

 

Chinese Finance Minister Lou Jiwei spoke at a meeting of the Group of 20 in Australia said China's economic growth which is the second largest oil consumer in the world face downward pressure.

 

The International Energy Agency earlier this month cut its global oil demand forecast due to lower demand from Europe and China. To forecast the demand of China in the next year cut 100,000 barrels per day to 10.6 million barrels per day.

 

WTI slump after data showed sales of second homes in the United States fell in August. Oil was also depressed after Libya said oil field will produce the greatest return on Tuesday.

 

WTI crude oil on Monday closed at $ 91.46 per barrel, with daily highs and lows $ 92.46 $ 91.20

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Perched Oil Level In Near 16 Month Low Before Data Backup

 

Wednesday, September 24, 2014

 

West Texas Intermediate oil traded near its lowest level in more than 16 months before the release of data on oil reserves that may sinyalkan strong demand in the United States.

 

Futures contracts fluctuate in New York, only slightly changed from the closing price on September 22. The possibility of expanding crude oil reserves of 750,000 barrels last week to 363 million, according to a Bloomberg News survey before the Energy Information Administration released a report today. Saudi Arabia and Qatar are among the countries that joined the first wave of air strikes led by the United States in attacking ISIS in Syria.

 

"We are still seeing more supply," said Jonathan Barratt, chief investment officer at Ayers Alliance Securities in Syndey on this day. "The market is starting much reduced from what is happening in the Middle East."

 

WTI oil for November contract moved in the range of the current $ 91.68 per barrel in electronic trading on the New York Mercantile Exchange, up 12 cents at 12:15 pm. The contract closed at $ 91.52 on September 22, it is the weakest level since May 1st 2013, oil prices have dropped as much as 6.9% this year.

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Declining inventories, WTI Oil Gains

 

Thursday, September 25, 2014

 

WTI crude oil rose after the Energy Information Administration reported a decline in crude inventories. Reported inventories fell 4.27 million barrels to 358 million in the week ending September 19. Analysts had expected a gain of 750,000 barrels.

 

EIA also reported inventories at Cushing, Oklahoma, which is the center of WTI oil shipments rose to 20.2 million 191,000. Inventories of gasoline fell 414,000 barrels to 210.3 million barrels, and distillate oil rose 823,000 barrels to 128.6 million barrels, the highest level in nearly a year last.

 

Before the report of the EIA released oil had weakened due to rising oil production in Libya and Iraq. Libyan oil production is now up to 900,000 barrels per day, while Iraq's oil exports from southern terminals an average of 2.58 million barrels per day in the whole month of September, up from an average month of August amounted to 2.38 million barrels per day.

 

WTI crude oil trade on Wednesday closed at $ 92.87 per barrel, with daily lows and highs $ 91.12 $ 93.29

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Oil Stop Decline 3 week losing streak

 

Friday, September 26, 2014

 

WTI crude oil recorded the first weekly gain in a month on speculation that strong economic growth will boost demand for crude. The Commerce Department said the United States economy expanded at the fastest pace since 2011, while data from Thomson Reuters / University of Michigan showed consumer sentiment in September the United States is at its highest level in over the past year as rising optimism about the economy and the outlook for future income more both.

 

Meanwhile, OPEC members Iran ask for jointly keep oil prices do not fall further. OPEC will hold a meeting on 27 November and will likely discuss whether the current production target of 30 million barrels per day is appropriate for 2015 OPEC expects oil demand decline further next year.

 

Oil trading on Friday closed at $ 93.35 per barrel, with daily lows and highs $ 92.23 $ 93.86

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Strengthening Dollar Press Oil in Early Week

 

Monday, September 29, 2014

 

WTI crude oil traded lower in early this week, a stronger dollar put pressure on dollar-denominated oil. In the last week the oil managed to stop the decline of three successive weeks on speculation that strong economic growth will boost demand for crude.

 

The Commerce Department said the United States economy expanded at the fastest pace since 2011, while data from Thomson Reuters / University of Michigan showed consumer sentiment in September the United States is at its highest level in over the past year as rising optimism about the economy and the outlook for future income more both.

 

The dollar today is observed to continue strengthening, citing Bloomberg's website, the dollar index is currently in the range of 85.67, up from its closing level on Friday at 85.64.

 

Another report on the drive oil prices came from Libya, a spokesman for the National Oil Corp. said oil output fell 25,000 barrels to 900,000 barrels per day, due to unrest in oil fields Jalo.

 

WTI Crude oil is currently trading around $ 92.92 per barrel

[mynameisandhy]

Asian session, Oil Continue Strengthening

 

Tuesday, September 30, 2014

 

Oil traded higher in the Asian session, and to this day has been rising for three consecutive days. US economic growth in the final data released last Friday was able to continue to keep the oil reinforcement.

 

Gross domestic product in the second quarter grew 4.6% from a year earlier, the Commerce Department said that real GDP was revised up from 4.2% the previous release. Such data led to optimism would be an increase in demand from the largest oil consumer in the world.

 

Meanwhile, China's little pressure for oil, manufacturing activity index HSBC released final revised down to 50.2 from the initial release of 50.5. Numbers in the index is unchanged in September from August which is also 50.2. HSBC chief economist Qu Hongbing, said the data in September showed manufacturing activity continued to expand, although the pace is slow. China is the second largest oil consumer in the world.

 

Although higher, oil is now likely to record the worst performance quarter in the last two years. WTI Crude oil is currently trading around $ 94.56 per barrel, with daily highs and lows $ 94.82 $ 94.16

[mynameisandhy]

WTI Oil Recovers Slightly Ahead of Data Backup USA

 

Wednesday, October 1, 2014

 

West Texas Intermediate oil rebounded from the biggest drop in 22 months prior to the release of data on crude oil reserves that may sinyalkan strengthening in demand for fuel in the country's largest oil consumer in the world.

 

Futures contract rose as much as 0.5% in New York, reversing the 3.6% decline that occurred yesterday. Expanding crude oil reserves of 1.5 million barrels last week, while that for gasoline is likely to shrink, on show in a Bloomberg survey before the Energy Information Administrationa data released this evening. The worst is over for the global oil prices as Saudi Arabia cut its production and improving global oil demand, according to analysts at UBS AG and Barclays Plc.

 

"The rebound today is a form of short-covering given the decline that we saw yesterday," said Barnabas Gan, an economist at Oversea-Chinese Banking Corp. in Singapore. "The risk of future price increases are likely to see OPEC does not seem to feel comfortable with the drop in oil prices. Supply It is the story of this year."

 

WTI oil for November contract rose by 47 cents to $ 91.63 per barrel in electronic trading on the New York Mercantile Exchange and is currently moving in the range of $ 91.45 at 16:05 pm. WTI slipped by $ 3.41 into $ 91.16 at the time of yesterday, it was the lowest level since May 2013, WTI oil prices have dropped nearly 13% in the third quarter, down as much as 7% this year.

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Translucent oil in the Lower Level $ 90 Per Barrel

 

Thursday, October 2, 2014

 

WTI crude oil fell back, extend weakness in the two previous days and a break below $ 90 a barrel for the first time since 24 March 2013, global manufacturing activity data disappoint concern will make oil demand.

 

The survey showed German manufacturing activity contracted for the first time in the last 15 months. China's manufacturing activity showed no change in September provides an overview of China's manufacturing sector has not gained momentum reinforcement. While the UK and USA manufacturing activity slowed less than economists estimated.

 

Oil also weighed naikknya oil inventories in Cushing Oklahoma, which is the center of oil delivery contract rose 315,000 menajdi 20.5 million barrels in the week ended 26 September, and be a rise in two consecutive weeks, according to the Energy Information Administration reported on Wednesday. EIA also reported that crude oil inventories fell 1.36 million barrels, gasoline inventories fell 1.84 million barrels, and distillate fuel inventories fell 2.89 million barrels.

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Dollar Rally Sink Oil Price Down to $ 90

 

Friday, October 3, 2014

 

World oil prices extend decline phase in the territory of "bear market" on Friday, triggered by the strengthening dollar and signs of further growth in supply.

 

Rally US currency has reemerged as a major driver of commodity prices in recent months, which has made the raw materials become more expensive for most importers. Some analysts assess if the oil market sentiment also worsened by the increased production back from Russian oil fields after the maintenance period, and news about the increase in OPEC output in September to the highest level in 2 years.

 

Crude oil lost about $ 1.2 to close at its lowest level since April 2013.

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Brent Weakens, Towards They Lowest Level Since 2012

 

Monday, October 6, 2014

 

Brent crude, which is the global benchmark oil, were trading near 27-month lows amid traders wait for signs of how your OPEC will respond slump in prices. Meanwhile, West Texas Intermediate oil is stable.

 

Futures contract for Brent fell as much as 0.6% in London and has plunged nearly 20% from their highs in 2014 Saudi Arabia cut oil prices to all of them for delivery last week, prompting speculation that the country's largest oil exporter in the world will not cause a reduction in supply from countries that are members of OPEC. The dollar traded against the euro still strong enough, it has limited the appeal of commodities to protect against inflation.

 

"The focus will be on OPEC mungkn and any indication on how they will respond to the current conditions," said Jens Pedersen Naervig, a commodity analyst at Danske Bank A / S in Copenhagen today. "The strengthening of the dollar also contributed to the decline in oil prices."

 

Brent oil for November contract fell by 53 cents to $ 91.78 a barrel on the ICE Futures Europe exchange in London and is currently moving in the range of $ 92.41. The contract slipped by 1.2% on October 3 becomes $ 92.31, it is the lowest settlement since June 2012 the highest price Closing occurred on June 19 at the level of $ 115.06.

 

WTI oil for November contract rose by 41 cents to $ 90.15 per barrel in electronic trading on the New York Mercantile Exchange.

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Oil holding above Level $ 90 Per Barrel

 

Tuesday, October 7, 2014

 

Oil steady in Asian trade today after successfully rebounded on Monday due to the weakening dollar. WTI Crude oil is currently trading around $ 90.24 per barrel, with daily highs $ 90.46, and the lowest $ 90.13 (Monex Trader platform).

 

Speculation amount of oil supply will be greater than the demand made ​​before the oil level falls to below $ 90 per barrel. Oil output cuts by OPEC is believed to be able to push up oil prices continued to decline. However, the cartel will be a meeting on 24 November, and still no signal that OPEC will cut oil output.

 

Sharp rally in recent weeks finally making the dollar hit by profit-taking in trading yesterday and recorded the biggest one-day drop in 12 months. 10 The dollar index against major currencies was down 0.9% Bloomberg version, became the biggest drop since 18 September 2013 when it fell 1.1%. Quite weak dollar helped strengthen the dollar-denominated commodities such as oil. The report will mention prolongation Irving Oil refinery closure in Saint John, New Brunswick, to 20 November also provide little incentive for oil

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Oil Continue Weakening Ahead of Data Inventories

 

Wednesday, October 8, 2014

 

WTI crude oil to extend weakness in Asian trade today, ahead of the release of oil inventory is expected to increase by 2.1 million barrels. American Petroleum Institute on Tuesday reported oil inventories rose 5.1 million barrels in the week ended October 3. While the Energy Information Administration to report oil supplies tonight.

 

Oil slipped on yesterday's trading after the International Monetary Fund cut its forecast for global economic growth, making speculation in oil demand will decline. The International Monetary Fund lowered its global growth forecast to 3.8% in 2015 from 4% previously forecast due to weak European economies and developing countries. The IMF also said it is likely 1 of 3 euro zone will re-enter recession. Besides reducing the expectation that OPEC production to boost oil prices fades after Iran's oil minister, Bijan Zanganeh said OPEC has no plans to hold a meeting to discuss the drop in oil prices in recent weeks.

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Oil Still worried about the supply

 

Thursday, October 9, 2014

 

Oil prices fell to 17-month lows touched after rising oil reserves the United States confirms the abundance of supply is investors' anxiety in the market. EIA data showed oil inventories increased by 5.1 million barrels to 360 million for the week ending on October 3 last. This is higher than the predicted increase of 2.1 million barrels and previous publications which fell as much as 1.4 million barrels. Nymex oil is now traded at $ 87.61; away from a daily high of $ 88.61.

 

Oil prices dropped enough since mid-June on fears of oversupply and weak demand. The IMF has cut its world economic outlook for the 3rd time this year as he warned of weak economic performance in the euro zone, Japan, and developing countries such as Brazil. Data Wednesday showed China's reduction in service sector activity also confirms acaman economic slowdown in the world's biggest 2

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Abundant Global Supply Continues to Press Oil Price

 

Friday, October 10, 2014

 

West Texas Intermediate oil slipped further towards the bearish market amid signs that the global oil supply is abundant. Brent crude, which is the benchmark oil for more than half the world's oil market, traded near the lowest level in four years.

 

Oil slumped as much as 2.5% to $ 83.59 per barrel in New York. Oil yesterday closed down more than 20% from peak levels in June, this is a common definition of a bear market. Brent oil fell more than 22% in the same period and fell by 0.4% to $ 89.68 at 17:13 pm.

 

Two of the most oil contract traded in the world has gone to hell because of slowing demand growth at a time when production of abundant countries including the United States and Russia, which is a major supplier outside OPEC. Saudi Arabia and Iran, both members of the OPEC, has reduced the primary value of their crude oil exports to buyers in Asia to its greatest level in six years, it was encouraging speculation that some OPEC countries will compete for market share.

 

"This is a massive selloff," said Thina Saltvedt, an analyst at Nordea Markets in Oslo Norway. "There is no trigger points to push the price up. Market in Asia is being flooded by oil. There are more and more signs that OPEC does not work equally well in the days ahead, and it apparently does not look good if OPEC is unwilling to tighten everything . "

[mynameisandhy]

Speculators action Drop Crude Oil Price

 

Monday, October 13, 2014

 

Financial managers reduced bullish positions on oil prices to a maximum of 5 weeks in, help driving oil futures prices into a bear market. Hedge funds and other large spkeulan also cut long positions in West Texas Intermediate crude as much as 4.8% in 7 days until October 7, according to data from the Commodity Futures Trading Commission. Short positions rose by 8%, the most in almost a month.

 

WTI crude joined Brent, the European benchmark oil, the drop is more than 20% of the high level of last June, to meet the criteria defined as a bear market. Supply of crude oil climbed the most since April as the level of domestic production rose to a 28-year high and the distillation unit shut for maintenance. The level of oil demand this year will be the United States dropped to the lowest level since 2012, according to government predictions on 7 October.

"A further decline due to concerns over supply," said Harry Tchilinguirian, chief market strategist at BNP Paribas SA commodities in London. "The United States is no shortage of crude oil."

[mynameisandhy]

IEA: Oil Demand Levels Will Rise In 'Tentative'

 

Tuesday, October 14, 2014

 

Oil prices may have fallen throughout the summer but the level of demand will recover in 2015 as the global economy improves, according to the International Energy Agency (IEA). Oil prices have dropped dramatically in recent months, with the price of Brent crude touched a two-year low at $ 88.55 per barrel this week, due to the abundance of supply and slowing demand in the United States, China, and Europe. However, the IEA believes that the rate of growth of demand "may have touched a base" and will slowly improve.

 

"Projected growth rate of oil demand for the year 2014-2015 has been reduced, but the rate of growth is still expected to gain momentum. Recent data indicate that it may have started to occur," according to the IEA in its monthly report on Tuesday. The IEA added that the refinery output hit a record high in August and rising global margin indicates the current level of demand "is not as bad as it looks." The IEA revised its global oil demand forecast for 2014 to 92.4 million barrels per day, down 200,000 barrels per day from a report in September, due to "reduced economic growth expectations and the recent weakening trend." However, the current rate of demand growth is projected to be at 700,00 barrels per day in 2015, although the IEA predicted demand growth rate will rise "tentative" to 1.1 million barrels per day in 2015, "as macroeconomic conditions improve." Rate growth in demand is expected to gain momentum in the fourth quarter of 2014, according to the IEA, "although slow in line with the global economy.

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Trimming Press Oil Demand Projections

 

Wednesday, October 15, 2014

 

WTI Crude Oil retreated after the International Energy Agency cut its forecast for oil demand this year. IEA expects oil demand this year will reach 650,000 barrels per day, down from an earlier estimate of 900,000 barrels per day, and be the lowest in the last five know.

 

The IEA has cut its forecast for oil demand this year in four consecutive months. In June last, a company based in Paris that provide projections of 1.3 million barrels per day, which means that half of the current projections forecast in June. While the IEA's 2015 forecast by 100,000 barrels decrease, to 1.1 million barrels per day.

 

While the United States is expected back oil supplies rose 2.1 million barrels last week, after the previous week rose 5 million barrels. Energy Information Administration will release oil inventory data on Thursday. WTI Crude oil is currently trading around $ 83.90 per barrel, with daily highs $ 85.57, and the lowest $ 83.75

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End of Oil Price Decline in Home Eye

 

Thursday, October 16, 2014

 

A number of the world's largest bank said the drop in oil prices will soon be over. Bank of America Corp. and BNP Paribas SA to predict oil prices will stay above $ 80 per barrel. Commerzbank AG also expect that level as a low level for Brent crude. They mostly hope that OPEC cut output, which likely will occur next month, to cope with the decline in demand lately. Brent crude was down more than $ 30 per barrel from a high level in June, closed at $ 83.78 yesterday, amid high supply and slow global growth. Ministers from the 12 member states of the Organization of Petroleum Exporting Countries will meet in Vienna on November 27 to discuss production and price levels.

 

"We are almost at the base," said Harry Tchilinguirian, chief market strategist at BNP Paribas commodity in London, estimates that Brent will find support at $ 80 to $ 85 per barrel and may rebound to $ 95 until the end of the year. "It seems that OPEC does not intend to see the price is too low for too long." Projection of these banks are very dependent on OPEC's decision next month, and especially Saudi Arabia, which still has not taken action following the increase in the level of production everywhere start of the United States to Russia and Canada. while $ 80 is "strong support," said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt, said that said it's a shifting bottom may fall out that if OPEC rejects cuts next month.

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Oil rebound from $ 80 a barrel level

 

Friday, October 17th, 2014

 

Bank of Japan, Haruhiko Kuroda, said the central bank is on track to achieve the inflation target of 2%, implying the lack of pressure for Kuroda to provide further monetary stimulus despite a slowing economy and the Japanese stock market plummeted.

 

The Nikkei index has lost more than 10% since hitting a seven-year 16374.14 three weeks ago, and gives an overview of the market is now in a correction phase. Throughout this week the Japanese stock market is down about 5%.

 

"The mechanism of positive growth is at the corporate and household sectors, our economy is still in a moderate recovery trend" Kuroda said at a meeting held Community Bank Shinyo Kumiai.

 

Kuroda added the inflation rate, regardless of the price of food, will be above the level of 1% in some future time, before rising towards 2%. But Kuroda does not give the exact time when it will reach the target of 2%, it only provides an estimate of "likely" inflation of 2% will be reached between April 2014 to March 2017

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Oil Up Moderate, But Records Weekly Losses

 

Monday, October 20th, 2014

 

Oil futures rose modestly on Friday, extending gains for the second straight session, but the rise was only slightly off losses this week.

 

Light sweet oil futures for November rose by 5 cents, or 0.1%, to settle at $ 82.75 a barrel on the New York Mercantile Exchange. This week, oil fell 3.6% for the third consecutive week decline.

 

Brent oil for December delivery on London's ICE Futures exchange rose 57 cents, or 0.7%, to end at $ 86.16 per barrel. Losses this week reached 4.9%, a natural contract loss four straight sessions of five sessions.

 

Oil prices stabilized after oil traded in New York briefly traded below $ 80 a barrel on Thursday.

 

"After all the volatility (panic) in various assets this week, the rally in risky assets optimistic to end this week has erased losses in the oil complex" energy commodities awaiting further instructions from OPEC, said Matt Smith, an analyst at Schneider Electric , in a note on Friday.

 

OPEC members will meet next month in Vienna, and the market will await their decision on production targets.

 

The oil producers including Saudi Arabia, Kuwait, United Arab Emirates plans to remedy menenatang any reduction in OPEC oil production limits at the meeting, according to media reports.

 

Oil prices have hit bottom as the latest multi-year major countries exporting oil has sinyalkan no intention to reduce production, and some organizations have reduced forecasts for oil demand.