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Oil falls again with Iraq's readiness to export record amounts
London, January 15 (Reuters) - The downward trend in oil prices resumed Thursday with Iraq's planning a new jump in exports in February, which fell both Brent and US crude around $ to Ikterpa from their lowest levels in six years and abandon the majority of the gains made yesterday Wednesday.
ANZ Bank said today the "war on the quota market push oil prices to a downward trend."
Brent $ 1.48 to $ 47.21 a barrel by 1007 GMT, down from US crude was trading at $ 47.60 a barrel, a loss of 88 cents.
The trade sources said today that Iraq plans to increase monthly crude exports from southern ports to a record level in February.
They said, citing preliminary loading program that the Iraqi Oil Marketing Company (SOMO) has allocated 3.3 million barrels per day of Basra crude for export in February, up from 2.7 million barrels per day in January.
The rise of the futures contract for Brent 4.5 percent on Wednesday - the largest percentage increase since June 2012 - with the dealers to cover their positions in the optional decades solution for it. But the atmosphere remains downward due to oversupply.
The US investment bank Jefferies International today "reduce our expectation for the price of Brent to $ 50.25 a barrel from US $ 72.25 per barrel in 2015 to $ 67.50 a barrel from $ 83 a barrel in 2016 to $ 77.25 a barrel from $ 90 a barrel in 2017 . "
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London, January 15 (Reuters) - The downward trend in oil prices resumed Thursday with Iraq's planning a new jump in exports in February, which fell both Brent and US crude around $ to Ikterpa from their lowest levels in six years and abandon the majority of the gains made yesterday Wednesday.
ANZ Bank said today the "war on the quota market push oil prices to a downward trend."
Brent $ 1.48 to $ 47.21 a barrel by 1007 GMT, down from US crude was trading at $ 47.60 a barrel, a loss of 88 cents.
The trade sources said today that Iraq plans to increase monthly crude exports from southern ports to a record level in February.
They said, citing preliminary loading program that the Iraqi Oil Marketing Company (SOMO) has allocated 3.3 million barrels per day of Basra crude for export in February, up from 2.7 million barrels per day in January.
The rise of the futures contract for Brent 4.5 percent on Wednesday - the largest percentage increase since June 2012 - with the dealers to cover their positions in the optional decades solution for it. But the atmosphere remains downward due to oversupply.
The US investment bank Jefferies International today "reduce our expectation for the price of Brent to $ 50.25 a barrel from US $ 72.25 per barrel in 2015 to $ 67.50 a barrel from $ 83 a barrel in 2016 to $ 77.25 a barrel from $ 90 a barrel in 2017 . "
[You must be registered and logged in to see this link.]
