The crude oil began the new week with a promotion. It is mainly due to optimistic sentiment on the stock exchange in China, which were published today, good corporate news. Reason for stock growth in the Asian country became the accounts of companies in the manufacturing sector like Sanyo Heavy Industry and Changsha Zoomlion Heavy Industry Science & Technology Development, who were able to achieve strong growth in profits for the first semester. “Next year the price of oil will be higher because of strong demand growth in developing countries and declining oil supply,” said Neil Baveridge of Sanford Bernstein in Hong Kong. Today the price of oil contracts with delivery in October rose by 0.3 percent to 74.10 dollars a barrel, although at an early stage of trade quotes to move with growth of 0.7 per cent. Thus black gold six-month unstick from bottom, recorded late last week. Then oil with delivery in September retreated to 73.46 dollars a barrel, while quotations for the entire week is pulled down by 2,6 percent.
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The commodity prices registered a diverse movement, such as oil retreated and rose gold and copper price. This happened against the backdrop of stabilizing the dollar after dollar yesterday dropped to new low against the euro quarterly. The crude oil contracts with delivery in September lost 0.1 percent minimum to 82.47 dollars a barrel. Thus, the first decline reported quotations for the last five days. Today the U.S. Department of Energy publishes regular data on oil reserves in the country that showed surprise drop of 2.8 million barrels. Estimates were to reduce inventories by 1.2 million barrels. However, stocks of gasoline have increased by 700 thousand barrels, which is considered a negative signal from the markets. The reason for this are the expectations for a decline of 800 thousand barrels for summer travel and traditional American summer. Gold price with delivery in December reached a growth of 0.7 percent to 195.90 dollars an ounce. At the beginning of the session the situation looked as if the metal will be able to go over 1200 dollars per barrel, but it did not happen.
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The price of crude oil began the new week with an increase by quotations jumped over 79 dollars a barrel, reaching its highest level since mid last week. The reason for this was optimism on the stock market in Asia, where the Bulls prevail for six of last seven trading sessions. The growth in Asia is a fact because a series of strong statements, as currently 42% of companies within the index MSCI Asia Pacific, which have submitted quarterly reports from July 12 onwards, reported better results than expected. The new week started with the rise in the price of oil with delivery in September from 0.3 percent to 79.17 dollars a barrel. So the raw material continues to pick up movement, which brought in July grew by 4.4 per cent. Among the reasons for the price of oil is the retreat of the dollar against the euro. This morning the single currency failed to advance to 1,3080 EUR / USD, which limits the interest in investing in commodities.
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The price of U.S. light crude rose strongly by nearly 2 percent by the end of the session on Thursday and passed $ 78 a barrel after two consecutive days of decline. That helped the dollar depreciation against most major currencies and good data on the reduction of unemployment in Germany, sent Wall Street Journal. The U.S. dollar retreated by more than half a percent against the euro, yen, Swiss franc and Australian dollar yesterday. The euro rose above 1.31 dollars, which is the highest level for 11 weeks. Depreciation of the dollar makes the price of oil lower, expressed in other currencies. The emergence of successive tropical disturbance in the Atlantic also contributed to the surge in oil prices yesterday. During today’s e-commerce in Asia, however, took down the quotes after the data for the decline in industrial production and increased unemployment in Japan. The U.S. light crude for September delivery lost 0.3 percent to 78.12 dollars a barrel in today’s e-commerce. Oil futures rose 1.37 dollars or 1.8 percent, to 78.36 dollars per barrel at the end of yesterday’s session, as their price was moving in the range of 76.45 to 78.89 dollars a barrel.
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The crude oil prices stabilized at about 77 dollars a barrel yesterday after it was reported decline in quotations because unexpected rise in U.S. oil stocks. Regular data on the country’s energy ministry show that during the last week registered the biggest oil imports in the U.S. for the past almost four years. This led to the retreat of quotations by 0,7 percent to 76.99 dollars per barrel at the end of yesterday’s trading session in New York. This morning did lightest crude for delivery in September traded at 77.02 dollars a barrel. In the last week of U.S. oil inventories rose 7.31 million barrels goals and reached 360.8 million barrels. The increase was the biggest since March 19, statistics show. Preliminary expectations were completely opposite, as expected a decline of 1.73 million barrels. For the retreat of oil yesterday, and contributed data for a surprise drop in orders for durable goods by 1 percent. With a major contributor to this lack of demand for aircraft, which reflects directly on the mood of the oil market.
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The exchange session on Tuesday brought a decline in the price of gold and oil at nearly 2 per cent. This happened against a background of uncertain movement of the stock market indexes, which never found a definite direction. Impact on market sentiment turned serial disappointing U.S. data published today. They showed a decline in consumer confidence in July and worsening business conditions. To increase the optimism did not help and rising house prices, which saw the rise of the Case-Shiller index for the second consecutive month. The crude oil contracts with delivery in September dropped its price by 1.9 per cent to end the session at 77.50 dollars a barrel. So the raw material reported their biggest one-day decline since 1 July. The gold with delivery in August decreased by 2.1 percent to 1,158 dollars an ounce, which is the price of raw materials from April 26 onwards. Compared to the peak of 18 June, precious metals has retreated by 8 per cent.
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The crude oil prices fell over 1% during yesterday’s session and continues to go down for a second day today after Federal Reserve Chairman Ben Bernanke of the United States expressed concerns about the recovery of U.S. and world economy this year. During the presentation of the semi-annual report on monetary policy before Congress, Federal Reserve Bernanke said he expected the U.S. unemployment rate to remain above 7 percent until at least 2012. He will need time to recover lost jobs due to the crisis in the U.S. Apart from his remarks on the price of oil muzzy and data for the increase in stocks of U.S. crude oil and the appreciation of the dollar against most major currencies. U.S. light crude for delivery in September by 0.2 percent cheaper to 76.38 dollars a barrel in electronic trading today on the New York Petroleum Exchange. Yesterday its price fell 1.02 dollars or 1.3 percent, to finish the session at a level of 76.56 dollars a barrel. It varied in the range of 76.31 to 78.57 dollars a barrel, according to Reuters. Brent, meanwhile, cheaper by 0.3 percent to 75.15 dollars per barrel after finishing yesterday’s session with a decline of 85 cents, or 1.1 percent, to 75.37 dollars a barrel.
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The commodity prices - oil and precious metals, reported increases. This happened against a background of appreciation of the dollar, despite fears of deflation, which again began to gather force. The gold with delivery in August rose 0.8 percent to 191.70 dollars an ounce. So metal is peeled off from the bottom two months registered in 1182 dollars an ounce yesterday. Reason for the sale of gold in recent weeks was the restriction of development fears the debt crisis in Europe. The reason for this and give today’s successful placement of bonds from Spain, Greece and Ireland. The low price of the metal, however, began to attract investors, as financial markets still are not sufficiently stable. Today, the dollar rose against major currencies such as dollar index advanced by 0.3 percent to 82.75 points. Height account price and other precious metals. Silver rose 0.9 percent to 17.693 dollar an ounce, while palladium increased its price by 1.6 percent to 451.05 dollars an ounce. Quotations did platinum advanced by 0.3 per cent.
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The crude oil price reached its highest value for the last seven weeks tonight. The reason for this retreat gave the U.S. dollar and fears that tropical storm Alex will lead to suspension of production of raw material in the Gulf of Mexico. Following news of the movement of Tropical Storm Alex, the first named storm of nature and which actually begins the season of hurricanes in Gulf of Mexico, speculation that oil companies begin evacuation of platforms to the path on which expected the storm to pass. Meteorologists’ expectations are, that within 48 hours Alex would probably accelerate the movement and will become a hurricane. This and the retreat of the dollar in the first hours of a new week has led to oil price rises to 79.38 dollars a barrel. Gradually, however, the mood is stabilized and 8:40 local time, U.S. light crude moves retreat from 0.1 per cent on Friday to 78.78 dollars a barrel. Dollar declines against the euro for a fourth day, early this morning as both currencies are exchanged at a rate of 1,2379 EUR / USD. Earlier in the night closer to the euro close to 1,24 EUR / USD.
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The crude oil price goes down for a second day today in times of e-commerce in Asia, after data showed American petroleum institute an increase in oil reserves of the country and sales of homes in the U.S. reported an unexpected drop in May. The increase in crude oil reserves of U.S. hints at lack of demand for energy raw material in the largest economy in the world. They increased by 3.69 million barrels last week to their highest level since early June, according to the report of the American Petroleum Institute. The price of U.S. light crude for delivery in August fell by 0.4 percent to 77.51 dollars a barrel during electronic trading today in Asia. Oil futures fell by 76 cents to 77.85 dollars per barrel by the end of yesterday’s session. The July oil futures, which expired yesterday, dropped 61 cents, or 0.8 percent, to 77.21 dollars per barrel. Since the beginning of this year they fell 2.2 per cent. Now go to the Ministry of Energy, U.S. oil reserves which are expected to show a decline of 800 thousand barrels last week. Department of Energy collects data from all oil refineries in the country until the American Petroleum Institute receives data only from its member refineries.
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