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Oil prices climb expect Energy Agency with the changing market path
Friday, 16 January 2 / January 2015 15:32
SINGAPORE (Reuters) - Brent crude rose in futures on Friday above $ 49 a barrel after the International Energy Agency said that the downward path taken by the recent price may be changed, despite the exclusion of some analysts, the recovery in prices soon in light of the continued superiority glut global supply on demand.
Oil prices fell by more than half since last June, with production rising around the world and slowing demand. Although Energy Agency said that the market may have changed the course of this year, but added that prices may continue to decline before the market begins to rise again.
The agency said, "No one knows the minimum that will reach the market. But the decline has an impact ... may not be the price recovery is imminent as any major disruptions did not occur but are increasing signs that indicate that the track is going to change."
The agency, which advises industrialized nations on energy policy, "she said restoring balance (in the market) may begin in the second half of the year."
By 0917 GMT, Brent crude futures rose 74 cents to $ 49 a barrel. US crude price 82 cents to $ 47.07 a barrel.
Analysts said Brent, who was trading above $ 48 a barrel before the agency Energy-report finds strong support at current prices.
And achieved gains despite oil traded in the market after Mtlqubh Switzerland surprised markets already reeling from the fall in commodity prices on Thursday for abandoning the ceiling set by the rate of its currency against the euro.
The move led to the euro's largest daily losses incurred in its history against the Swiss franc and descends to the lowest level in 11 years against the dollar.
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Friday, 16 January 2 / January 2015 15:32
SINGAPORE (Reuters) - Brent crude rose in futures on Friday above $ 49 a barrel after the International Energy Agency said that the downward path taken by the recent price may be changed, despite the exclusion of some analysts, the recovery in prices soon in light of the continued superiority glut global supply on demand.
Oil prices fell by more than half since last June, with production rising around the world and slowing demand. Although Energy Agency said that the market may have changed the course of this year, but added that prices may continue to decline before the market begins to rise again.
The agency said, "No one knows the minimum that will reach the market. But the decline has an impact ... may not be the price recovery is imminent as any major disruptions did not occur but are increasing signs that indicate that the track is going to change."
The agency, which advises industrialized nations on energy policy, "she said restoring balance (in the market) may begin in the second half of the year."
By 0917 GMT, Brent crude futures rose 74 cents to $ 49 a barrel. US crude price 82 cents to $ 47.07 a barrel.
Analysts said Brent, who was trading above $ 48 a barrel before the agency Energy-report finds strong support at current prices.
And achieved gains despite oil traded in the market after Mtlqubh Switzerland surprised markets already reeling from the fall in commodity prices on Thursday for abandoning the ceiling set by the rate of its currency against the euro.
The move led to the euro's largest daily losses incurred in its history against the Swiss franc and descends to the lowest level in 11 years against the dollar.
[You must be registered and logged in to see this link.]
