All About Commodity

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Oil falls to Lowest Level 5 1/2 Years

 

Tuesday, December 30th, 2014

 

Crude futures turned lower on Monday, hitting its lowest level in the last 5 1/2 years on speculation oversupply of crude oil will bring oil prices continue to fall in the first semesster 2015.

 

Previous oil rose as a result of the turmoil in Libya where the two largest oil terminal, Es Sider and Ras Lanuf, has been closed. But prices turned lower after investors expect disruption of supplies from Libya will not reduce the abundance of global oil supplies.

 

Oil prices are now heading the biggest decline since 2008 and is likely to record the second biggest annual decline since oil futures began trading in the 1980s. WTI crude oil on Monday's trading to close at $ 53.76 per barrel, with daily highs and lows $ 55.74 $$ 52.90.

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Selling Action Continues, Translucent Oil Price Below $ 49 / Barrel

 

Tuesday, January 6th, 2015

 

The decline in crude oil prices continued on Tuesday, after being hit by a sell-off earlier in the day. Market participants appear to be anticipating some additional bearish factor for this year, including worries about Greek debt and the appreciation of the US dollar.

 

Currently crude for delivery in February traded at around $ 49.10 / barrel, or about 1.8% below the closing price yesterday, after touching its lowest level $ 48.45 / barrel.

 

Strengthening of the US dollar, worries about Greek debt and the global oil supply conditions oversupply risk putting 'black gold' under significant pressure in the first half of 2015. These factors also encourage investors to focus on employment figures in the areas of shale oil drilling the US, which could be an early indicator of the decline in oil production. Changes in the number of drilling rigs, shopping company also could be another indication that noteworthy.

 

US shale oil revolution, aided by the commercialization of fracking and horizontal drilling technology, has fueled a boom in oil production and contributing to America's oil supply excess current

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Continue to Decline, Translucent Oil Prices Down Level $ 47

 

Wednesday, January 7th, 2015

 

Global oil markets fell back to fourth day on Tuesday, still searching for essentially the price of crude oil is at its lowest level since the spring of 2009 in the growing concerns about global oil supply surplus. Traders said the trend for oil price still seems to be down, but the price may rebound when there are no surprises on the market sentiment. One is the current US economic data over burusk of expectations pressing dollars for a while. This makes the price of oil in spite of the low level of the session, but only briefly before resuming the downward movement. On Tuesday, Saudi Arabia's King Abdullah said in her speech that Saudi Arabia will face the challenges posed by the decline in oil prices "with a strong will," and do not give a signal that the No. 1 oil exporter will consider to cut the supply.

 

"I think the chances of oil prices to the level of $ 46 - $ 45 pretty wide open, '' according to Phillip Streible, strategic senior market at RJO Futures in Chicago." It seems that investors understand that the US is becoming one of the producers of crude oil is great and it will not change in the soon. ''

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Oil Successfully Stop Decline streak

 

Thursday, January 8th, 2015

 

US crude oil prices to close up on Wednesday, the first increase in four sessions, with traders seem bargain hunting after a decline of almost 10% in the last 2 days. Support for oil prices appear after weekly supply data showed a decline in US crude oil unexpectedly last week, although the supply of gasoline and oil distillation still rise beyond expectations. Crude oil prices had dropped after euro zone inflation data released by the negative for the first time in 5 years, rebounding after the oil supply data released by the US Energy Information Administration. EIA said US crude oil supplies fell by more than 3 million barrels last week, dbiandingkan analyst expectations for an increase of 880 000 barrels. But supply at Cushing, Oklahoma, the delivery destination US crude rose more than 1 million barrels. Gasoline supplies rose more than 8 million barrels of oil and distiliasi rose more than 11 million barrels.

 

Some analysts said the US employment data were positive on Wednesday helped restore oil market sentiment. Private companies in the US as much as 241.00 add jobs in December, exceeding analyst estimates, according to the ADP survey. Some traders said the oil market may be at a crossroads after falling more than half of the high level in June last year, especially after a fall of 10% in the last 2 days. While other market participants predict price movements Wednesday only temporary rebound ahead of further decline.

"I think this is just a dead cat bounce," said Tariq Zahir, a member at Tyche Capital Advisors in Laurel Hollow, New York. "Nothing fundamental has changed. Investors are trying to determine the basis and has been proven wrong for weeks."

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WTI Crude Oil Prices Already Decline For 7 Sunday Due to Supply Issues

 

Friday, January 9th, 2015

 

Crude oil prices are likely to be closed lower than last week's closing price which is a decrease of 7 consecutive weeks. This price reduction is caused by the lack of signal production cuts by major producing countries of OPEC crude oil in particular.

 

The price of WTI and Brent crude oil futures had hit the lowest level since 2009 this week and has dropped more than 50% compared to prices in June.

 

However, crude oil prices rebounded in the last 2 days due to good US economic data raised optimism that the growth of demand.

 

The price of WTI crude oil futures for February delivery touched the level of $ 49.50 per barrel today. Prices are now moving lower in the range of $ 48.70 per barrel.

 

The oil price decline occurred because of the reluctance of the OPEC countries, led by Saudi Arabia to cut production. Though the outlook for global crude oil demand is also seen slowing.

 

Signal demand from the world's largest crude oil consumer, China, also push down the price of crude oil. Consumer Price Index Data of China (1.5%) are still at a low level in 5 years, released today indicates that China is in the path of a slowdown.

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Oil Continue Decline In Early Asian Session

 

Monday, January 12th, 2015

 

Oil dropped increasingly deeper than the lowest level in more than 5-1 / 2 years as Venezuela and Irlan proposed that members of the Organization of Petroleum Exporting Countries to work together to help the recovery of the crude oil market. Meanwhile Iraq, OPEC's second largest oil producer, to raise prices for Basrah Light Crude oil shipments in February to Asia as much as 30 cents per barrel, after Saudi Arabia also raise his prices. Iraq set the rebate be $ 3.70 per barrel for the average oil price of Oman and Dubai, according to the Oil Marketing Co. This announcement follows last week's price increases by Saudi Arabia, OPEC's largest producer, the price of oil to Asia. Iran in February to raise the price of oil to Asia three days ago.

 

"This is in line with the Saudi move," said Robin Mills, head of consulting at Manaar Energy in Dubai. "Saudi Arabia is always a trend-setter, and everyone should remember that."

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Oil Closed At Lowest Level Since April 2009

 

Tuesday, January 13th, 2015

 

Crude oil prices slumped about 5%, and closed not far from the 6-year lows, after Goldman Sachs cut its forecasts for this year while the price of Gulf producers did not show signs of limiting output.

 

Analysts Goldman Sachs cut its forecast for US WTI oil price becomes $ 47.15 per barrel from $ 73.75 a barrel earlier.

 

Venezuelan President Nicolas Maduro on Sunday met with the Crown Prince of Saudi Arabia, as part of a diplomatic tour in the Gulf to discuss the decline in oil prices. Saudi Arabia has so far still maintain their commitment not to reduce production to boost oil prices, and ignored calls smaller OPEC members, including Venezuela.

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Excess Supply of Oil Will Persists

 

Wednesday, January 14th, 2015

 

Excess global oil supply is expected to last until at least the second half when demand recovered, according to the Kuwaiti Oil Minister at the same time the leadership of the Organization of Petroleum Exporting Countries (OPEC) United Arab Emirates, Ali Al-Omar. This recovery requires global economic growth faster so it can help absorb excess oil estimated at 1.8 million barrels per day.

 

Oil prices fell by about 40% since OPEC maintain production targets at a meeting on November 27 in order to maintain their market share.

 

Until this afternoon oil traded at around $ 45.22 per barrel, lower than Tuesday's closing price of $ 46.11 per barrel.

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Inventories Rise, Oil WTI Back Depressed

 

Thursday, January 15th, 2015

 

WTI crude oil back under pressure after US oil inventories rose last week reported. The oil in early US session had strengthened now seen moving flats, traded at around $ 46.09 a barrel at 22:54 pm, with daily highs and lows $ 46.71 $ 44.99

 

Energy Information Administration reported that US crude oil inventories rose 5.4 million barrels in the week ended January 9th. Gasoline inventories rose 3.2 million barrels reported, and oil distillation increased 2.9 million barrels. Analysts surveyed by Platts had forecast crude oil inventories fell by 400,000 barrels, while gasoline and distillate oil is expected to rise each of 2.7 million barrels, and 1.9 million barrels.

 

The abundance of oil supplies, is inversely proportional to the weakening world economy make oil outlook is still bleak. Since last June, WTI crude oil prices have dropped 60%

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Investors Please Be There Restrictions Oil Production

 

Friday, January 16, 2015

 

Oil trade looks verdant Friday as investors hope will be a tightening of production that can withstand the fall of oil prices. James Hubbard, head of oil and gas research at Macquarie Group, said prices below $ 40 a barrel will make it difficult for producers to cover production costs. This will force the oil producers to begin to restrict production. If the price is below $ 40 per barrel, about 1.5 million barrels per day of oil supply will create cash flow becomes negative and when the oil producers began to lose money, they will begin to limit production.

 

Oil companies have started to reduce spending and cancel large projects. This budget adjustment will be more obvious when corporate earnings announcements soon.

 

Oil for February delivery traded at around $ 47.02 a barrel on Friday afternoon, with daily lows $ 45.93 per barrel and daily highs $ 47.09 per barrel.

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Early Week, Oil Back Slips

 

Monday, January 19th, 2015

 

After noting the first reinforcement in the last three weeks, the oil back down at the beginning of this week, after Iraq announced record high oil production, and ahead of the release of China's gross domestic product data which is the second largest oil consumer in the world. WTI crude oil traded at around $ 48.40 a barrel at 20:18 pm. Iraqi Oil Minister Adel Abdel Mehdi, said Iraqi produce 4 million barrels of crude oil per day in December.

 

China's GDP in the fourth quarter is expected to grow 7.2% from the previous year, lower than the third quarter of 7.3%. Percentage growth will be the lowest since 1990. The report is likely to worsen sentiment towards oil that has been in decline since June.

 

Oil last week managed to rebound after the International Energy Agency said oil prices are likely to fall further before recovering to rise, EIA also saw a decline in oil prices will lead to a reduction in production in several countries outside the OPEC oil producers.

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China's GDP Data To Trade Oil Press

 

Tuesday, January 20, 2015

 

The weakened oil market Tuesday after China's economy growth by 2014 are reported is lower than the Government's target of annual growth and achieve the lowest in 24 years. This sentiment of energy markets mempersuram has slumped with the slowing demand and supply still excess.

 

China's National Bureau of statistics reported the country's second-largest economy growth reached 7.4% in the past year, lower than the target of 7.5%. Growth in the fourth quarter was the lowest in level in nearly six years, walalu a bit better than market expectations of 7.3%.

 

According to the credit rating agency, Moody's, this low oil prices could negatively impact on the company's exploration and production in South East Asia.

 

Towards the middle of the day, the WTI crude oil is traded in the range of $ 47.82 a barrel, the lowest level with a daily $ 47.60 and highest level of daily $ 48.09

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Oil Stronger Although Still Shadowed Supply Outlook

 

Wednesday, January 21, 2015

 

Oil verdant Wednesday but analysts still maintain a pessimistic outlook for the next six months because of the global oil supply is still excessive. While BNP Paribas predict a rise in oil prices will be hampered strengthening US dollar as monetary tightening, as well as Europe and Japan who are in the recovery phase.

 

Yesterday the price of oil fell by almost 5% after the International Monetary Fund (IMF) cut its forecast for the global economy in 2015 and Iran signaled oil prices will reach $ 25 per barrel.

 

Oil traded higher this afternoon is limited to the range of $ 46.89 per barrel, with daily lows $ 46.58 per barrel and daily highs $ 46.96 per barrel.

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Oil Hold Under $ 48

 

Thursday, January 22, 2015

 

Oil trading remained below $ 48 a barrel, before the oil supply report by the Energy Petroleum Administration (EIA) and the press conference of the European Central Bank (ECB) later that night. Bloomberg News survey released Thursday predicted US oil supplies, the world's largest oil consumer, will probably grow 2.7 million barrels last week.

 

"According to the current consensus view, there are about 2 million barrels per day of oil supply berleebih," said Ric Spooner, analyst at CMC Markets in Sydney. "If there is already a real production cuts, we will see a direct response to the futures price, if the reduction is significant."

 

As of this afternoon with a limited range of oil traded at $ 47.48 per barrel price, the daily low price 47.21 a barrel and the highest price of $ 47.67 per barrel daily.

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Strengthening Oil Maybe Only While

 

Friday, January 23, 2015

 

The rise in oil prices after the death of the King of Saudi Arabia, King Abdullah, is predicted to be temporary as the still abundant supply of crude oil in the market. Saudi Arabia, the largest producer of the Organization of the Petroleum Exporting Countries (OPEC), leading the organization strategy of production quotas in the fall 58% condition crude oil prices since the middle of last year. Saudi Arabian Oil Minister Ali al-Naimi reiterated the need to maintain market share with declining global demand and the highest US oil production since 1983.

 

"Obviously the death of the King of Saudi Arabia significant but not fundamentally change anything. Saudi Arabia tried to maintain its market share and has asserted that," said Stephen Schork, president of Schork Group in Pennsylvania. "Oil supplies are still abundant in the global market."

 

As of this afternoon, oil traded at $ 47.25 per barrel, with daily highs $ 47.72 and $ 46.44 daily lows

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Oil Rebounds Post Comments OPEC

 

Monday, January 26th, 2015

 

Oil prices turned away from the visible weakening in Asia and Europe as a result of OPEC secretary general reports that prices had hit bottom and potentially suggesting a rebound.

 

So far the price of US crude oil futures for March contract rose 0.59% to $ 45.83 per barrel, after reaching its lowest point at $ 44.35 intraday and daily highs at $ 46.11 per barrel.

 

Overall the price of oil has dropped more than 55% since mid-June due to anxiety abundant supply and lower demand. OPEC decided in November not to cut oil output quotas, so oil fell more in related expectations, without the intervention of his annual OPEC will be required in order to shrink the global oil supply.

 

OPEC Secretary General Abdalla Salem el-Badri said in an interview with Reuters on Monday that the level of prices in the $ 45 to $ 55 per barrel, according to his opinion may have reached a bottom and a potential rebound in the near future.

 

Another positive catalyst replacement Saudi King succession to the crown prince is also the potential to be a support for oil as expectations Saudi Arabia quota policy changes that could affect the future OPEC decision.

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Ignore Comments OPEC, Oil Prices Relatively Stable

 

Tuesday, January 27th, 2015

 

Crude oil prices tend to move limited in early European trading session on Tuesday, despite an official Organization of Petroleum Exporting Countries said that if the price declines may have found the "bottom".

 

OPEC Secretary General Abdullah al-Badri said that prices were likely to have touched its lowest point and could soon rebound. He even warned about the risk of price hikes in the future, which is predicted to reach $ 200 per barrel, if the investment to find new sources of supply is too low.

 

While the pressure on oil prices could rise again this week when the US commercial crude oil stocks showed a larger increase than expected. US crude oil inventories are expected to grow nearly 4 million barrels last week, after posting the biggest increase in 14 years on the previous week.

 

Currently crude for delivery in March, offered in a range of $ 44.90 per barrel, or about 0.5% below yesterday's closing price

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Oil Rises For First Time In Last 4 Days

 

Wednesday, January 28th, 2015

 

After weakening in the three-day losing streak, crude oil finally able to strengthen due to the weakening dollar and OPEC said oil prices are likely to be dashed if no new investment in the production sector.

 

The dollar weakened against major currencies after the US Commerce Department reported durable goods orders fell in December. Said durable goods orders fell 3.4% from November. While the core durable goods orders that do not include the transportation sector also recorded a decline in four consecutive months after the end of the year fell 0.8% reported. The data releases broke the expected rise of 0.6% respectively by economists.

 

On Monday, Secretary General of OPEC, Abdallah el-Badri said oil prices are likely to reach $ 200 per barrel if the manufacturer no longer invest in the production sector, and is priced at $ 45 to $ 55 per barrel would be the lowest.

 

Oil on Tuesday closed at $ 45.78 a barrel, the lowest level and the highest daily $ 44.81 $ 46.55.

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Oil Survive Close Low Level 6 Years Since oversupply

 

Thursday, January 29th, 2015

 

Oil traded near the lowest level in almost six years after government data overnight showed US crude inventories expanded to its highest level in more than three decades.

 

Oil futures contract is still moving flat this morning after yesterday fell by 3.9%. Based on the report from the Energy Information Adminustration that US crude oil supplies in the US rose by 8.87 million barrels to 406.7 million barrels last week. It was the highest level since the data compiled since August 1982.

 

The surge in supply has been increasing speculation that global oil abundant that has driven prices down nearly 50% in 2014 will last. Saudi Arabia, which is the largest exporter in the world, will continue to maintain a high level output to maintain market share, according to a report from Jadwa Investment Co. in Riyadh, when OPEC rejected calls to cut production.

 

"Once again, we get the increased supply," said Jonathan Barratt, chief investment officer at Ayers Alliance Securities in Sydney. "The market still looks pretty weak. If we go back to a level of $ 45, it has the potential to become the basis for a rebound."

 

WTI oil trading March dikisaran $ 44.46 a barrel in electronic trading on the New York Mercantile Exchange at 9:19 pm. The contract yesterday fell by $ 1.78 becomes $ 44.45, it is the lowest closing level since March 2009.

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Oil Still Under Pressure Bearish Due to Excess Supply

 

Friday, January 30, 2015

 

arga oil lower in early trading session on Friday after a slight increase on the previous session, in the middle of the analysts say that the outlook remains weak with high production and producers are reducing operational costs for menyeseuaikan lower export earnings.

 

Global oil prices a little stronger on Thursday, but not before the US WTI oil touched its lowest level in six years and Brent oil reduces its gain on data showing US oil reserves hit a new high.

 

WTI oil this morning to move in the range of $ 44.60, rose about 7 cents at 9:25 pm, while the Brent oil moves in the range of $ 49.05.

 

Analysts say that the market outlook is still weak as the manufacturer still maintain high output and menyeseuaikan themselves to the environment of lower prices.

 

"It looks more and more difficult to see any volunteers who want to reduce supply in the commodity markets," said analysts at ANZ in analyst reports.

 

"The decline in currency exchange rates and energy prices will probably make a lot of energy and commodity producers to increase production to Balance impairment in price," they added.

 

Despite the weaker outlook, oil prices have so far received support from a range of current levels since the beginning of the year.

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Oil Prices Rally Towards Level $ 50

 

Monday, February 2nd, 2015

 

Crude oil prices rebounded sharply on Monday afternoon, as invesor ignore bearish Chinese data and strike at US refineries, and focus on a reduced number of US-owned oil rig, which signaled the production rate will decline for the future. "Many investors are looking forward to the opportunity to buy," said Bjarne Schieldrop, chief commodities analyst at SEB. "Brent has been moving sideways for a while but closed above the 20 day MA for the first time since July of last Friday, and the price to attract customers." US crude oil prices rose as much as $ 1.44 to the level of the range of $ 49.68, after touching a high level in the range of $ 50.17, and fell in the range of $ 46.65 in Asian trading session this morning.

 

On Sunday, workers at nine refineries and chemical plants in the US went on strike in an attempt to suppress the oil perusahaa to agree to a new national contract. "So far, only a number of refineries were affected, but the last time there was a similar demonstration, in 1980, the action lasted for 3 months," said Ole Hansen, senior commodity strategist at Saxo Bank.

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Crude Touch Highest Level 3 Week

 

Tuesday, February 3rd, 2015

 

Crude oil rose on Monday and touched its highest level in three weeks, but gains limited after US crude oil inventories are expected to rise back. The increase in US crude inventories berkontirbusi against oil prices plunged nearly 50% last year. Oil companies, producers and analysts surveyed by Bloomberg expect oil production Organization of Petroleum Exporting Countries rose in January as a result of Iraq's oil production reached a record high.

 

Energy Information Administration last week reported oil inventories rose 8.87 million barrels to 406.7 million barrels in the week ended Jan. 23, and the highest level since the EIA began collecting the data in August 1982. While this week is expected to return EIA report US oil inventories rise by 2.3 million barrels.

 

Oil on Monday capable of manufacturing activity rose although the data from the two largest oil consumer, the US and China, disappointing. The strike at some US refineries and berkurangnnya number of rigs operating fueling speculation US oil production will decline, which sustains pengutan oil.

 

WTI crude oil on Monday to close at $ 49.83 a barrel, after touching the highest level of $ 50.56, and the lowest $ 46.67

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Oil Back Slipping Because Outlook Demand

 

Wednesday, February 4th, 2015

 

Oil prices fell on Wednesday as renewed concerns over global demand and the high amount of reserves that have stopped the rally that pushed prices rose about 19% in the last four sessions.

 

Recent rebound driven by the expectation that prices may have hit bottom after the fall of oil prices during the last seven months has slashed the price of nearly 60% and encourage some large energy companies to reduce spending on new production. However, the data that has been released from the Chinese consumer sector has revived concerns about demand, that is dragging down the back of oil prices.

 

Analysts at ANZ reported that a series of news flow from the reduction of some of the capital expenditure of the energy industry and the decline in US oil drilling appears to have been the trigger price movements. Currently sentiment seems to be shifting, volatility remains high.

 

WTI oil fell about 57 cents to $ 52.48 a barrel. Contracts in the previous session rose by 7 cents, after trading at the highest level at $ 54.24 earlier in the session yesterday, it was $ 10 higher than the six-year lows reached last week at the level of $ 43.58.

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Oil Prices Back Corrected For Anxiety Excess Supply

 

Thursday, February 5th, 2015

 

Oil prices moved lower on Thursday after the biggest losses in the previous session as US crude oil inventories are at record highs has reduced over the four-day rally.

 

Price was higher in early trading Thursday on optimism that the pace of China's central bank to disburse the latest liquidity into the country's economy by lowering the reserve ratio of banks' capital required will spur demand for energy.

 

The oil market is still very volatile, with the US oil contract yesterday fell by 9% in the biggest one-day drop ever. In the previous session. WTI oil futures ended down $ 3.21, or 5.5% from the previous session.

 

US Oil is currently trading down about 56 cents at $ 47.89 a barrel at 14:10 pm. Contract at the beginning of the range trading session $ 49 a barrel, after closing down nearly 9% on Wednesday due to the increasing number of oil reserves.

 

US crude stocks rose as much as 6.3 million barrels last week, rising for the fourth week in a row to reach a record high at 413.06 million barrels, the data indicated leh Energy Information Administration.

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Oil Up 4%, Back to Top $ 50

 

Friday, February 6th, 2015

 

Crude oil rose about 4%, and return to above $ 50 a barrel on Thursday after data showed US jobless claims better than expected and the increase in economic growth projections by the European Union to help increase crude oil demand outlook. WTI crude oil on Wednesday trading closed at $ 50.92 per barrel, with daily highs $ 52.10, and the lowest was $ 47.36.

 

US crude oil has gained about 19% after a four-session rally that ended on Tuesday, raising hopes the oil has reached its lowest level and will continue to rise. But the surge in US oil inventories to the highest level in 80 years makes slumped almost 9% on Wednesday.

 

Energy Information Administration on Wednesday reported US crude oil inventories rose 6.3 million barrels to 413.06 million Barek last week, larger than analysts expected 4.0 million barrels, and have risen in four consecutive weeks. Crude oil inventories at Cushing, Oklahoma, the GCC is the center penngiriman oil rose 2.5 million barrels, followed by a surge in gasoline and distillate fuel inventories.