All About Commodity

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Oil Stable Below $ 76 Per Barrel Before OPEC Meeting

 

Tuesday, November 25th, 2014

 

US crude oil futures moved steady below $ 76 a barrel earlier in the session Tuesday amid investors awaited the outcome of a meeting of OPEC members who may be cut production to provide support to prices continue to slide.

 

US crude for January delivery dropped 13 cents at $ 75.65 a barrel at 8:50 pm. The contract yesterday fell by 73 cents in a volatile session.

 

Some commodity fund managers believe that oil prices could slide to $ 60 a barrel if OPEC does not agree to a significant reduction in production when they meet in Vienna on 27 November.

 

Russia, who are in need of high oil prices, making the latest attempt to destabilize the OPEC meeting to indicate that Moscow may reduce output if OPEC does the same thing

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Oil Weakens In Asia session, Markets Wait for OPEC

 

Wednesday, November 26th, 2014

 

Oil futures fell in Asian trading session Wednesday after a sharp decline overnight and traders said that the considerable price volatility will continue to happen in the middle of the market looking forward to the latest news from the OPEC meeting in Vienna on Thursday tomorrow.

 

In Nymex WTI oil for January delivery was trading flat at around $ 74.10 per barrel on Globex electronic session at 14:37 pm. While it's only January Brent crude rose 6 cents to $ 78.39 a barrel.

 

WTI oil settled at its lowest level since 21 November 2010 in the previous trading session after a report showed that the major oil producers are being met as Saudi Arabia, Venezuela, Mexico and Russia did not give the decision on supply reduction. The Wall Street Journal earlier reported that OPEC members appeared already getting close to reaching a deal with Saudi Arabia.

 

OPEC will meet on November 27 to decide whether they will lower the level of oil production has been a flood or not as the oil in the global market. Uncertainty and speculation on OPEC's decision has been made on investors wait and see the latest conditions.

 

"Obviously, it all depends on the outcome of an OPEC meeting that has the potential to change the view of the market, not only short-term but also long-term," said Michael Wittner, head analyst at Societe Generale.

 

At the end of trading Tuesday, the data from the American Petroleum Institute menjnukkan US oil reserves rose 2.8 million barrels for the week ending November 21. Energy Information Administration will publish the data of oil reserves on Wednesday night, and analysts expect there will be a decline of 100,000 barrels.

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Oil prices Collapses After OPEC Decision

 

Thursday, November 27th, 2014

 

OPEC meeting decided not to change the target level of production at the level of 30 million barrels per day with the argument that the OPEC producer needs to consider how prices fluctuate before changing the quota.

 

So far the price of US crude oil futures fell -2.84% to $ 71.51 per barrel, after reaching the highest point intraday at $ 73.56 and the lowest level daily touched $ 70.87 shortly after OPEC's decision was released, while Brent crude fell below $ 75 for the first time since in 2010.

 

The oil minister of Saudi Arabia, Kuwait and Iran agreed with the decision of the OPEC output, while the representative of Venezuela to the contrary. OPEC producer itself has a very minimal production costs, for example in Saudi Arabia takes only cost $ 4 per barrel, so the low price level is unlikely to have a significant impact on the fiscal position of government budgets.

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Oil Free Fall Over Absence Surprise From OPEC

 

Friday, November 28th, 2014

 

West Texas Intermediate oil to the largest first weekly decline in three years after OPEC did not take any action to reduce the abundance of global supply and curb the decline in oil prices has been encouraging the market to bear.

 

Futures contract fell as much as 8.1% in New York. OPEC still retain a collective target of their production by 30 million barrels per day, said Ali Al-Naimi, Saudi Arabian Oil Minister yesterday after the group meeting in Vienna. WTI oil may be down to around $ 60 per barrel in the next month, according to an analyst at the Energy Analytics Group.

 

Crude has fallen by 36% since hitting a peak in June as the US pumping at the fastest pace in more than three decades amid signs of weakening demand. OPEC does not send "any signal to everyone," and just want a fair price, OPEC Secretary-General Abdalla El-Badri during a press conference. Brent oil yesterday fell by 6.7% to its lowest level in four years.

 

"Given the current supply capacity outside OPEC production cuts at this level is not the best interests of Saudi Arabia," said Ric Spooner, chief analyst at CMC Market in Sydney. "In the medium term, prices are likely to be seen in the range of $ 60, but you are likely to get a rebound in the short term when the price already looks quite low for the market."

 

WTI oil for January delivery fell as much as $ 5.94 into $ 67.75 in electronic trading on the session yesterday and is now moving in the range of $ 68.76 at 08:40 pm. Floor trading yesterday closed yesterday because of the Thanksgiving holiday in the transaction will be written off by today for settlement purposes. Prices have dropped by 10% this week, it was the largest since May 2011.

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Oil Tap Level Low 5 Year

 

Monday, December 1st, 2014

 

Oil hit a 5-year low in early Asia, still burdened by the OPEC decision making investors worried about the abundant supplies of oil in the market. Last Thursday, OPEC decided to maintain production quota of 30 million barrels per day. OPEC's decision was followed by Russia, the world's major oil producers. Russian Deputy Prime Minister Igor Shuvalov pointed out Moscow will continue to maintain the amount of its oil output to 10 million barrels per day. Nymex oil is now traded $ 64.52; not so far from the low level of 5 years which touched $ 64.08 this morning.

 

Investors also looked cautious ahead of a series of publications global manufacturing data from morning till evening. China will release manufacturing data at 08.00 and will be followed by Japan at 8:35 o'clock pm. Euro-zone manufacturing data will be released later in the day and the UK are scheduled at 16:30 pm. Meanwhile, the US will release the ISM manufacturing data at 22.00 hours. If a series of the manufacturing data sinyalkan weak global economic activity then this can be undermined oil demand outlook.

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Post Touching Lowest Level 5 Years, Oil Up 4%

 

Tuesday, December 2nd, 2014

 

Crude oil futures rose more than 4% on Monday, rebounding from a five-year lows touched last week after OPEC decided to maintain production levels. Benchmark crude for January ended contract gained 4.3% and is above $ 69 per barrel. The percentage increase was the largest since August 2012, and to stop the decline in four successive weeks.

 

Crude oil dropped 10% on Friday, hitting its lowest level sehak September 2009 after the market reacted to OPEC's decision. On Thursday, OPEC decided to maintain production levels, diminish hope the market will cut production to raise the price of oil.

 

WTI crude oil closed higher on Monday trading be $ 69.31 per barrel, with daily highs $ 69.54, and the lowest was $ 63.72.

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The weakening of the EIA report Reduce Oil Prices

 

Wednesday, December 3rd, 2014

 

Crude oil prices rising to a positive tertitori on Wednesday after the US Energy Information Administration report showed a decline in US oil stockpiles last week.

 

EIA reported a supply of 'black gold' fell by 3.7 million barrels in the week ended November 28. Analysts had forecast oil stocks will rise 1.1 million barrels. The EIA report also showed gasoline inventories rose 2.1 million barrels, while distillate fuel inventories increased 3 million barrels.

 

Currently the price of crude oil for January delivery contract offered in the range of $ 67.75 per barrel, after briefly touching a session low of $ 66.85 per barrel

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Fluctuating oil Consolidated Backup In US And OPEC action

 

Thursday, December 4th, 2014

 

West Texas Intermediate oil traded near $ 68 a barrel level as investors consider an unexpected decline in US crude oil reserves against the prospect of bertahannnya supply from OPEC.

 

Oil futures contract rose as much as 0.6% in New York. Based on the report from the Energy Information Administration overnight, US crude oil inventories slipped as much as 3.69 million barrels last week. Previous analysts expect to rise 1.75 million. Iraq, which is the second largest member of OPEC, signed an agreement with the Kurdish regional government will probably add about 300,000 barrels per day to supply the world after OPEC decided to maintain the level of output in the last week.

 

Oil fell by 18% in the last month as OPEC chose to let oil prices down in an attempt to force a slowdown in the rate of US production reached its highest level in more than three decades. Kuwait's oil minister said that OPEC action is to maintain market share in the global supply abundance after they rejected calls from some members including Venezuela to reduce production quotas on pertemuam on November 27.

 

Oil WTI January contract rose by 40 cents to $ 67.78 a barrel in electronic trading on the Nymex, and is currently engaged in a range of $ 67.66 at 8:59 pm. The contract yesterday rose by 50 cents, or 0.8%. be $ 67.38. Prices have dropped as much as 31% this year.

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Potential Excessive Inventory, Oil Weakens

 

Friday, December 5th, 2014

 

West Texas Intermediate crude oil weakened by excessive concern was global oil supplies after OPEC decided to maintain crude oil production targets.

 

OPEC in November to produce 30.56 million barrels per day, exceeding the target of 30 million barrels in six consecutive months. Meanwhile, the Energy Information Administration reported US oil production rose to 9.08 million barrels per day in the week ended November 28, became the highest since the EIA began recording data in 1983.

 

EIA also reported that crude oil inventories fell 3.7 million barrels due to an increase in refinery operations, gasoline inventories rose 2.1 million barrels, while distillate fuel rose by 3 million barrels. Analysts had forecast crude oil inventories rose 380,000 barrels will, gasoline inventories unchanged, and distillate oil fell 1.2 million barrels.

 

WTI crude oil closed at $ 66.73 per barrel, with daily highs and lows $ 68.22 $ 66.09

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Oil Price Drops Joint Stock Europe

 

Monday, December 8th, 2014

 

Crude oil prices fell for a fifth day and European stock markets fell from a high level almost for 7 years as the stock plunging energy producers. The dollar rose while Italian bonds weakened. Oil fell as the continuing global oversupply and OPEC opted to maintain its output targets, trigger cuts price forecast by some banks. Morgan Stanley cut its forecast for 2015 oil prices as much as 29% in the report dated December 5, related to the OPEC decision. Standard & Poor's cut Italy's credit rating belong to one level above investment grade and German Chancellor Angela Merkel added to the pressure on France and Italy to implement additional economic reforms.

 

"Prediction of crude oil prices have been cut, especially for the first quarter of 2015," said Ole Hansen, head of commodity strategist at Saxo Bank A / S. He estimated minayk Brent will drop to near $ 60 a barrel in the coming months, a decrease of about 12% from the current price.

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Oil Rebounds In The Competition OPEC Countries

 

Tuesday, December 9th, 2014

 

The price of West Texas Intermediate crude rebounded after closing at its lowest level in more than 5 years in the middle of the competition between the largest countries members of OPEC, Iraq and Saudi Arabia. Oil scored an increase of 0.5% on the New York session, restoring the previous decline of 1.3%. Iraq, the second largest producer in the Organization of Petroleum Exporting Countries, memagnkas Basra Light crude hers for January to the lowest level in 11 years seitdaknya yesterday. WTI oil price will reach an average of around level "$ 60 late" in the first half of next year, with hatga Brent crude on the level of "$ 70 early," said Amrita Sen, chief oil market analyst at consultancy Energy Aspects, at the conference Platts in Dubai.

 

"After a sharp decline yesterday, not surprising if oil prices rebound," said Bjarne Schieldrop, chief commodities analyst at SEB in Oslo. "The market will remain volatile to find Goldilocks price that can suppress the growth rate of the US shale oil supply, stimulate the global economy and still allow OPEC members to survive."

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Oil Trades Lower Level 5 Years

 

Wednesday, December 10th, 2014

 

Oil fell in early Asian session, tried to approach the low level of 5 years $ 62.24 was achieved yesterday. Investors are still worried by the prospect of excess supplies of oil demand outlook and fragility that make investors reluctant to push further oil recovery. Data US Petroleum Institute (API) which was released this morning showed US oil stocks increased by 4.4 million barrels for the week ended on 5th December. It would provide additional evidence on the abundance of supply is in the US, the world's largest oil consumer.

 

Japanese and Chinese data released this morning also confirms the weakness of the biggest economic conditions 3 and 2 in the world. Japan's manufacturing index fell to 8.1 for the last quarter of 2014 and this may still be ongoing sinyalkan Japanese economic recession in the last quarter of 2014. Inflation in China slowed to just recorded an increase of 1.4% in November. This is the lowest inflation rate in the last 5 years and can affirm the continuing threat of a slowing Chinese economy. It makes investors worried about the outlook for the world economy and oil demand outlook. Nymex oil is now traded $ 62.91; away from the daily high level of $ 63.41.

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OIL Hit hard by the OPEC Projections

 

Thursday, December 11th, 2014

 

Oil prices hit a new low on Wednesday as the Organization of the Petroleum Exporting Countries lowered its estimate for 2015 demand, the oil minister of Saudi Arabia questioned the need for trimming production.

 

In its monthly report, OPEC predicts oil demand will fall to 28.9 million bpd next year, compared to 29.4 million bpd in 2014. While the three largest members of the cartel, Saudi Arabia, Iraq and Kuwait, also give discounts largest oil prices in the 6-year for Asian customers.

 

Sentiment was also depressed by the IEA report shows rise in US crude stocks that beat estimates last week.

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Crude Oil Closed Under $ 60 / Barrel

 

Friday, December 12th, 2014

 

Crude oil prices slumped further on Thursday, with closed below $ 60 / barrel for the first time in more than 5 years, as the strengthening dollar makes commodities denominated in the US currency become more expensive for holders of other currencies.

 

Oil market sentiment is still burdened with the statement of Saudi Arabia's oil minister earlier today who question how the need to cut output. Signaling if OPEC's largest exporter prioritize maintaining market share, compared to dampen further price declines

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Oil Rebound, But Still Volatile Possible Price

 

Monday, December 15th, 2014

 

Crude oil traded choppy on Monday ahead of the data release this week from China and the US Federal Reserve meeting, as the market seems to look for a strong signal to the growth in the two countries with the largest economies in the world.

 

Oil prices dipped in early trade but the price managed to reduce losses and moved into positive territory as market participants consider the reduction of oil demand forecast on Friday by the International Energy Agency and report supply disruption in Libya.

 

January crude oil traded at around $ 58.47 a barrel, up by $ 0.66, or 1.1% in the Globex electronic session. Meanwhile in London January Brent oil rose by $ 1.04, or 1.7%, to $ 62.89 a barrel.

 

US, China and Europe is scheduled to release a major economic data on Tuesday. "Expectations for this month's PMI data in the estimate should lead to" oil "plunged further this week," said Daniel Ang, an analyst at Phillip Futures. He said that the strong factory data may be pushed oil to a level of $ 61.81 Nymex and Brent oil to $ 63.26 this week.

 

The Federal Reserve is scheduled to meet this week, and their monetary policy statement will be announced on Wednesday. Analysts estimate that a rate hike is on track and any results that impact on the US dollar will also drive the price of oil.

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Oil Prices Continue Weak Due to the abundance of Global Oil Still

 

Tuesday, December 16th, 2014

 

Global crude oil prices slumped to below $ 60 a barrel for the first time in five years with virtually no signs that the producers prepare to dampen excess supply.

 

Brent oil futures slipped as much as 3.3% to its weakest level since May 2009 in London. West Texas Intermediate oil, fell below $ 55 a barrel for the first time in five years. The US oil drillers benefit due to lower costs almost as fast as the decline in oil prices, according to analysts at Goldman Sachs Group Inc. OPEC should not have to reduce production at the time other manufacturers continue to expand their production, UAE Energy Minister.

 

Crude oil slumped almost 45% this year as OPEC looks more to maintain market share amid surging US shale oil inventories are exacerbating flood of global oil. OPEC, which is responsible for about 40% of global supply, would refrain from output restrictions, said the UAE Energy Minister Suhail al-Mazrouei on 14 December.

 

"We need to see more evidence that some manufacturers will stop or reduce the supply of oil to the market before it can return of confidence in the market," said Thina Saltvedt, an analyst at Nordea Markets in Oslo. "Until it does not happen, the price could continue to fall."

 

Brent oil in January, down as much as $ 2.04 becomes $ 59.02 per barrel. Meanwhile January WTI oil fell $ 1.50 sebantaj be $ 54.41 per barrel.

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Turned Oil Rises After EIA Report

 

Wednesday, December 17th, 2014

 

Crude oil prices instead turned higher on Wednesday despite the Energy Information Administration report showed a decline in US inventories were smaller than expected.

 

EIA said US crude stocks trurun 800,000 barrels in the week ended December 12, missing expectations for a decline of 2.5 million barrels. In the same occasion EIA also reported an increase in gasoline supplies as much as 5.3 million barrels, while distillate fuel inventories slipped by 200,000 barrels. Analysts had forecast gasoline inventories rose 2.3 million barrels and distillate oil inventories rose 670,000 barrels.

 

Currently Crude oil for January delivery is offered in the range of $ 56.60 or approximately 0.5% over the closing price on Tuesday

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Fluctuating oil reserves in the Middle Reports US

 

Thursday, December 18th, 2014

 

Oil fluctuated near five-year lows as investors consider the decline in US oil reserves for signs that Iran would join the other OPEC members in refusing to give up market share.

 

Oil futures contract was little changed after yesterday rose by 1%. US crude oil reserves, which is the world's largest oil consumer, fell as much as 847 000 barrels last week, reported yesterday by the Energy Information Administration. Iran this week to follow the steps of Saudi Arabia, Iraq and Kuwati in offering bigger discounts for sales to Asia. "

 

"Normal if oil prices lower," said Carl Larry, director of oil and natural gas at Frost & Sullivan in Houston in an interview on Bloomberg Television today. OPEC members "are trying to get the forefront of the consumer, and one of them is Chinese. I do not think that they will get back US consumers to supply that occurred in the country, but I think they want to get as much as possible from China.

 

January WTI oil moving in the range of $ 57.55 a barrel in electronic trading on the New York Mercantile Exchange at 16:20 pm. The contract yesterday rose as much as 54 cents to $ 56.47. The price has fallen by 43% this year, is on track for the biggest annual decline since 2008.

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Oil Still worried about excess supply

 

Friday, December 19th, 2014

 

Nymex oil prices turned lower as investors remained concerned with the excess supply of oil in the market. Oil has dropped 45% from this year's high in June after the shell technology to boost US oil production level to a height of 3 decades and slowing global demand. Nymex oil prices are now trading $ 54.42; away from the daily high level of $ 58.99.

 

"Saudi Arabia and OPEC is difficult to give up the oil export market share by cutting production," said Saudi Oil Minister Al-Naimi. "The world oil market is experiencing instability for the time being due to a slowing world economy."

 

"Russia's economy must be ready to adapt to the reality that oil prices could fall to a low level of $ 40 per barrel," said President Vladimir Putin. Earlier, Russia's oil minister said Russian oil production will not change in 2015, still 10.6 million barrels per day as in 2014. Russia is the world's largest oil producer

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Oil Rebound Amid Speculation Investment Manager

 

Monday, December 22, 2014

 

US crude oil futures rose on Monday terkerek due to improved investor buying interest ahead of the end of the year after a sharp fall of oil prices in the fourth week in a row and lost 23.62% of its value.

 

Over the weekend, officials OPEC OPEC's decision last month to not change production quotas OPEC producer, with reasons if they cut quotas, but the producers of oil shale in the US did not join the production cut their market share has the potential to be seized.

 

Commodities analyst at Barclays predicts on Monday, the fall of crude oil prices, the possibility has not been completed and various economists now anticipate lower oil prices until the end of 2015.

 

Unlike the case with investment managers who add net long positions in crude oil futures speculation in oil prices will rise. Under the CFTC report, various money managers add a bullish position with net long contracts 217.723 per December 16, up 13.8% compared to the previous week

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Keep OPEC production, Libya Output Down Sharply

 

Tuesday, December 23, 2014

 

Unrest in Libya has pushed oil production levels below the level of consumption on the holder of the largest oil reserves in Africa is a factor reminder that not all OPEC members are in a position to maintain market share by maintaining output. Along Iraq plans to raise the supply of next year amid repeated promise from Saudi Arabia and the United Arab Emirates to transport the same amount of crude oil, Libya's National Oil Corp. said output has dropped to "very low levels." The conflict between the government and Islamic militants has spread to the region Mellitah, where the oil port of Libya is the fourth largest, after causing disturbance 2 other export terminal, according to the NOC.

 

"The current situation in the port and production facilities is the pioneer of serious consequences if the crisis is not resolved soon," said NOC, requested that the clashing factions to "let go of the oil industry, the livelihood of all the people of Libya." Libya is currently producing 350,000 barrels per day as of December 15. the output of Libya reached about 1.6 million barrels before the uprising in 2011 that ended the tenure of Muammar Gaddafi for 42 years.

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Estimate OPEC Oil Prices Back Above $ 70 Per Barrel At The End Of 2015

 

Wednesday, December 24th, 2014

 

Delegation of the Arab OPEC oil producers estimate global oil prices will rebound to around $ 70 - $ 80 per barrel by the end of next year as the global economic recovery improve the level of demand.

 

However, the OPEC delegates predict oil prices will still be difficult return to the level of $ 100 per barrel in the near future, due to the level of $ 100 per barrel price will actually trigger a surge that is too excessive production of non-OPEC producers. Equilibrium point oil prices are expected to be achieved at the end of 2015, assuming the lack of OPEC oil production cuts by the end of next year.

 

According to OPEC production cuts to stabilize the price of oil is not only the responsibility of OPEC, non-OPEC oil producing countries such as Russia, Mexico, Kazakhstan and other countries are capable of producing 1 million barrels per day will also need to cut production if it is to maintain price stability.

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US Reserves Reports Back undermines Oil Prices

 

Thursday, December 25th, 2014

 

Oil fell on Wednesday as a government report showed US oil inventories rose to the highest level in two months.

 

West Texas Intermediate oil fell by 3.6% in New York. Crude stockpiles rose by 7:27 million barrels in the week ended December 19 as surging imports, according to a report from the Energy Informatiorn Administration. The report was previously projected to show a decline of 2.5 million barrels, according to the median estimate in a Bloomberg survey of nine analysts. "Too much amount of oil increases. Refineries operated at a high level but not high enough to make up the decline in this regard."

 

Oil futures surged yesterday after the Commerce Department data showed that US GDP rose by 5% at an annual rate in the period from July to September, it was the largest since 2003. Oil menunju largest annual decline since 2008 amid global oil abundance in worsening by level US production reached its highest level in three decades. Prices have fallen about 20% since OPEC on December 27, decided to maintain the target level of output at 30 million barrels per day.

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Libya turmoil Help Oil

 

Friday, December 26th, 2014

 

Nymex oil prices recorded a thin reinforcement in early Asian session after the explosion in the Libyan oil tank will assuage investor fears in the market supply is abundant. Libya is still covered by a civil war in which the various parties seeking to maintain or expand his territory. Libya is a member of OPEC oil production despite a fairly low level below 1 million barrels per day.

 

A rocket fired oil storage tanks at the oil port of Es Sider. Militants and government troops battling around the largest oil port in Libya is to get control over oil exports. Two of the largest oil port in Libya, Es Sider and Ras Lanuf, has closed with increasing anxiety over the safety of workers. Protracted battle has lowered Libyan oil production to just 352,000 barrels per day.

 

Oil prices have dropped 45% since reaching a high level of $ 107.65 in June last. Investors are concerned with the abundance of supply is in the middle of the gloomy outlook for global demand. Anxiety over abundance of supply is reflected in the data of US oil stocks rose by 7.3 million barrels last week. Nymex oil is now traded $ 56.09; try to stay away from low-level daily $ 55.66

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Oil Gains On Speculation Output Interference Threat From Libya

 

Monday, December 29th, 2014

 

Oil rose for the first time in three days as an explosion in the largest oil refineries Libya which has increased speculation that the output of the owner of the largest oil reserves in Africa will be disrupted.

 

Brent oil futures rose as much as 1.6% in London, after last week slipped by 3.1%. South wind threatens to expand the blaze that was in the tanks at the port of Es Sider Libya, said Ali al-Hasy, a spokesman for the Petroleum Facilities Guard. The fire had threatened three of five facilities, which are capable of storing 6.2 million barrels of oil, or four times the national daily output capacity.

 

The price of oil to the largest annual decline since 2008 as the members of OPEC rejected calls to reduce supply to maintain market share and the US pumping at the highest rate in over three decades dati. Libyan production of 580,000 barrels per day in November, down from 1:59 million barrels at the end of 2010, according to data compiled by Bloomberg.

 

"Clearly, the potential of a supply disruption can be constructive for oil," said Michael McCarthy, chief analyst at CMC Markets in Sydney today. "But as we all know about this during the past week, the market seems to ignore it. So I think this is probably the background that supports the price at the moment, and I think that this is not the primary driver in oil prices.

 

February Brent crude oil rose by 95 cents to $ 60.40 this morning in London, and is currently engaged in a range of $ 59.85. Meanwhile, the WTI oil rose by 73 cents, or 1.2%, to $ 55.46 a barrel on the Nymex.