Oil prices rise in US crude at its highest level in 6 months

by **Rocky** Fri 13 May 2016, 3:42 am

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Post n°1

Oil prices rise in US crude at its highest level in 6 months

by Rocky Fri 13 May 2016, 3:42 am

Oil prices rise in US crude at its highest level in 6 months
05/13/2016
Crude oil prices in volatile trade rose on Thursday, and record US crude its highest level in six months, as investors balanced between the expectations of pressure on world supplies and signs of a further increase in stocks in the delivery of US crude futures center.
Traders said oil also got the support of Nigerian supply disruption.
Brent crude rose 48 cents to $ 48.08 a barrel at the settlement. And ascended WTI futures 47 cents to $ 46.70 a barrel at the settlement, after arriving earlier in the session to $ 47.02 a barrel, the highest level since last November.
In early trading, US crude rose after the International Energy Agency raised its forecast for oil demand growth in 2016 to 1.2 million barrels per day from 1.16 million bpd in its forecast in April.
Brent rose after the agency also pointed to the decline of output from Nigeria, Libya and Venezuela by 450 thousand barrels per day, on the whole from its level a year ago.
Van then fell after the company "Zhinskab" market information reported that inventories at the Cushing Center in Oklahoma rose 548,923 barrels during the week ended on the tenth de Mayo.
Traders said the stronger dollar is also pressure on oil. The US currency climbed 0.3 versus a basket of currencies. And it makes the rising dollar-denominated oil by more expensive for holders of other currencies

http://www.mustaqila.com/2016/05/%D8%A7%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%81%D9%8A-%D8%B5%D8%B9%D9%88%D8%AF-%D9%88%D8%A7%D9%84%D8%AE%D8%A7%D9%85-%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D9%8A-%D8%B9%D9%86/

by **Rocky** Fri 13 May 2016, 3:48 am

Rocky

Rocky: Admin Assist; Posts : 281403
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Post n°2

Oil falls with the rise of the dollar and a warning from Russia to prolong oversupply

by Rocky Fri 13 May 2016, 3:48 am

Oil falls with the rise of the dollar and a warning from Russia to prolong oversupply

Friday 13-05-2016 | 11:09:58

Oil prices rise in US crude at its highest level in 6 months 100931_524333_large

Oil prices rise in US crude at its highest level in 6 months 100931_524333_large

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Twilight News / Oil prices fell nearly one percent on Friday as a stronger dollar and a warning from Russia that the glut of global supply of crude may continue until next year.

The dollar recovered to climb 2.46 percent from lows in May against a basket of other major currencies. And it increases the rising dollar-denominated oil by the cost of fuel imports to countries using other currencies including the demand may weaken.

By 0650 GMT, it was trading the global London Brent crude futures at $ 47.66 a barrel, down 42 cents or 0.9 percent from its price at the previous settlement.

The inn WTI US mediator in futures 54 cents or 1.18 percent to $ 46.16 a barrel.

However, some analysts said the decline in production, especially in North America precludes record prices fall further.

US Energy Information Administration data showed that crude oil production in the United States fell 4.7 percent from its highest level in 2016 recorded in January to reach 8.8 million barrels per day, while production of 8.4 percent, down from its peak in 2015.

In Canada, production volume stalled sandstone oil fields under because of forest fires more than a million barrels a day until Wednesday, although some companies said they increase production in general.

With the increase in global demand of 1.4 million barrels per day in the first quarter of 2016 compared with the same period last year, the rate of consumption is still strong, which supports the market.

But Russia's largest crude oil producer, played down the view that the declines recorded by the production recently in the Americas, Asia and Africa ruled the global surplus in production, inventory and pushing oil prices down more than 70 percent in the period between 2014 and early 2016.

He said Russian Energy Minister Alexander Novak told reporters on Thursday that the global oil surplus of 1.5 million barrels per day, though the market may not regain their balance before the first half of 2017.

He added that expectations not balance the market until the first half of 2017 is "optimistic expectations in light of the continued oversupply and falling production volumes at a slower pace than expected by analysts."

He pointed out that Russia is expected to produce 540 million tons (10.81 million barrels per day) or more of oil this year, up from 534 million tons in 2015.

http://www.ara.shafaaq.com/70642

by **Rocky** Fri 13 May 2016, 6:24 am

Rocky

Rocky: Admin Assist; Posts : 281403
Join date : 2012-12-21

Post n°3

Oil settles near $ 48 a barrel

by Rocky Fri 13 May 2016, 6:24 am

Oil settles near $ 48 a barrel

History of edits:: 5.13.2016 11:02
Oil prices rise in US crude at its highest level in 6 months Story_img_573587d992878

{International: Euphrates News} has seen world oil markets on Friday, a certain stability in oil prices.
The price of Brent crude to $ 47.82 a barrel, and US oil to $ 46.45.
Brent crude rose 48 cents to $ 48.08 a barrel at the settlement, on Thursday, while ascended WTI futures 47 cents at $ 46.70 a barrel. This
came after he lifted the international energy agency forecast for oil demand growth in 2016 to 1.2 million bpd from 1.16 million in the previous forecast in April / April last.
as oil futures rose after the IAEA referred to the decline in production in Nigeria, Libya, and Venezuela , 450 thousand barrels per day in total from its level about a year ago.
However , the rising dollar impacted down the oil, after the US currency climbed 0.3% against a basket of other hard currencies. Ended h

http://alforatnews.com/modules/news/article.php?storyid=116777

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Oil prices rise in US crude at its highest level in 6 months

Oil prices rise in US crude at its highest level in 6 months

Oil falls with the rise of the dollar and a warning from Russia to prolong oversupply

Oil settles near $ 48 a barrel

Oil settles near $ 48 a barrel

Re: Oil prices rise in US crude at its highest level in 6 months

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