Petroleum prices slowly gains their positions  

Yesterday`s losses have not prevented to return some positions to petroleum prices because of approaching American sanctions against Iran. The last in focus again. Such situation has allowed flotation of oil to change their indicators. 

Brent oil futures for December lost more than 4% and has traded at $76.44 per barrel. The day before it fell 5% to $75,88 per barrel which had been the lowest result since the first decade of September. 

WTI oil futures for December were traded at $66.04 per barrel, but it`s dropped just like Brent by 5% to $65.74 yesterday. New York`s session closed at $66,43 per barrel, despite expectations that it can exceed $66 level again. 

Such rally situation was triggered because Saudi Energy Minister Khalid Al-Falih promised to produce oil as much as possible in relation to expected impact of sanctions when he was talking to OPEC. So, in other words, Saudi Arabia is clearly going to take Iran`s place and offset any shortages on the oil markets. 

At the same time, Iran`s politics sure that Saudi Arabia will not be able to compensate the full amount of the petroleum. Also, Nomura`s experts predict that current status of the oil production would lead to new prices down to $68. 

Trade oil with GMO Trading to get the best result! 

Comments

Post a Comment

Popular posts from this blog

Lightning discounts

Image
The Pentagon’s largest contractor reported that it would be able to reduce the cost of producing its F-35A jet a year earlier than its intended date. The so-called F-35 program works to increase the fleet of fighters to more than 3 thousand units. The program is also aimed at reducing the price of the F-35A fighter to $80 million due to increased efficiency and with large orders. Reducing the cost of the F-35 a year ahead of time allowed the Pentagon to receive a discount of 8.8% on deliveries of 478 fighters for three years. In three years, the agreement will cost the US Department of Defense $34 billion. According to Deputy Secretary of Defense Ellen Lord, the agreement this year will reduce the cost of each F-35A from $89.2 million to $81.35 million. Deliveries for the second and third year of the agreement will be even cheaper - the cost of each fighter will fall below $ 80 million, estimated at Pentagon. In the coming years, Lockheed Martin is expected to produce...
Read more

Samsung showed bending smartphone Fold and new flagships S10

Image
Samsung has presented new devices in San Francisco and has shown the bending Galaxy Fold phone. Models S10 and S10 + received Dynamic AMOLED displays with the same resolution of QuadHD + (3040 × 1440 pixels, 19: 9) and diagonals of 6.1 and 6.4 inches, respectively. Displays are bent on the side faces, but this time almost do not leave any frames at the top and bottom. Galaxy S10 has received two cameras on the front and on the back. The camera on the back of the phone will consist of three modules: a 12-megapixel wide-angle lens, an ultra-wide-angle module for landscape pictures with a resolution of 16 megapixels and a conventional lens with a resolution of 12 megapixels. Galaxy S10e is the most budget model in the line of new flagships. The phone has got a screen of 5.8 inches without curved edges. The smartphone has three cameras, there are 12-megapixel, 16-megapixel on the back cover and 10 MP in front, as well as a battery with a capacity of 3100 mAh. Instead of an u...
Read more

Natural gas price is a delight for eyes

Image
There is a new era when oil value is higher than gas has. While oil worth keeps lifting, natural gas is gaining momentum in falling. In the second quarter, the exchange prices for natural gas finally broke away from oil prices. While oil prices are on average at a comfortable level of $ 65 per barrel, in Europe the cost of gas on the exchange is at ten years minimum - $ 110 per thousand cubic meters, the value of LNG in Asia is $ 170 per thousand cubic meters. Why did this situation come up? There are at least several roots. The first one, exchange figures, reflect only a part of the international gas trade and LNG. And the same Qatari, Australian LNG is supplied to Asian markets mainly with oil rate. June 20 futures set at 2.185 dollars per million British thermal units, which is on the most decreasing spot for the contract for the first month since 2016. This marked a breakthrough in the range from about 2.30 to 3.60 dollars from January. Thursday futures amounted...
Read more