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Oil in the descent as a result of US inventories and global demand concerns
Thursday, February 5, 2015
BAGHDAD / follow Baghdadi Enoz / ... Oil prices fell on Thursday, and continued large losses in the previous session, with rising US inventories to a record low and concerns about global demand, which led to the suspension of the rally lasted four days.
The oil markets remain highly volatile with US crude falling by 9% on Wednesday in one of the biggest losses ever.
In the previous four sessions prices have surged almost 19% from its lowest level in nearly six years.
By 0730 GMT, Brent crude futures down in March delivery 77 cents to $ 53.39 a barrel, after reaching its highest level in the session of $ 55.01 and then coming off more than one percent.
And dropped the price of crude futures of $ 3.21 or 5.5 percent at the settlement Wednesday.
The price of US crude fell 67 cents to $ 47.78 a barrel after falling more than a dollar.
Earlier in the session, crude futures jumped above $ 49 a barrel after coming on, yesterday, due to a substantial increase in US inventories.
Data from the US Energy Information Administration that crude inventories in the United States recorded an increase of 6.3 million barrels last week BASIS fourth weekly increase on Altoala- of up to 413.06 million barrels, a new record level. Ended 21 / l
Prices surged in early trading on Thursday, supported by optimism that the steps taken by the Chinese central bank to inject new liquidity by lowering bank reserve requirements, which will stimulate the demand for energy there.
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Thursday, February 5, 2015
BAGHDAD / follow Baghdadi Enoz / ... Oil prices fell on Thursday, and continued large losses in the previous session, with rising US inventories to a record low and concerns about global demand, which led to the suspension of the rally lasted four days.
The oil markets remain highly volatile with US crude falling by 9% on Wednesday in one of the biggest losses ever.
In the previous four sessions prices have surged almost 19% from its lowest level in nearly six years.
By 0730 GMT, Brent crude futures down in March delivery 77 cents to $ 53.39 a barrel, after reaching its highest level in the session of $ 55.01 and then coming off more than one percent.
And dropped the price of crude futures of $ 3.21 or 5.5 percent at the settlement Wednesday.
The price of US crude fell 67 cents to $ 47.78 a barrel after falling more than a dollar.
Earlier in the session, crude futures jumped above $ 49 a barrel after coming on, yesterday, due to a substantial increase in US inventories.
Data from the US Energy Information Administration that crude inventories in the United States recorded an increase of 6.3 million barrels last week BASIS fourth weekly increase on Altoala- of up to 413.06 million barrels, a new record level. Ended 21 / l
Prices surged in early trading on Thursday, supported by optimism that the steps taken by the Chinese central bank to inject new liquidity by lowering bank reserve requirements, which will stimulate the demand for energy there.
[You must be registered and logged in to see this link.]
