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Oil prices recorded its lowest level in four months
7/25/2015
Brent crude oil prices approached the lowest level in four months, on Friday, after data showing shrinking factory sector in China and the rise of the dollar against a basket of currencies. The preliminary survey showed the private sector, conducted by "Reuters" that "Activity industrials huge manufacturing in China shrank at its fastest pace in 15 months in July of this." The price of Brent crude fell 35 cents to $ 54.92 a barrel by the time (09:47 GMT), after hitting its lowest level in the session at $ 54.80 a barrel, recording the lowest price since early April. Brent lost about 13 percent of its value in July, its biggest monthly losses since falling about 19 percent in January, albeit less severe decline this week. Prices moved in a narrower ranges weekly in 11 months with seasonal demand strength, especially for gasoline in the US summer season including contributed to easing the long-term impact of the global supply glut. US crude futures price in September delivery 12 cents to $ 48.57 a barrel, after falling 74 cents at the settlement on Thursday, to $ 48.45 a barrel, the lowest level since March 31. And lost WTI 18 percent of its value in July, its biggest monthly decline since December and the second largest monthly drop in the last seven years.
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7/25/2015
Brent crude oil prices approached the lowest level in four months, on Friday, after data showing shrinking factory sector in China and the rise of the dollar against a basket of currencies. The preliminary survey showed the private sector, conducted by "Reuters" that "Activity industrials huge manufacturing in China shrank at its fastest pace in 15 months in July of this." The price of Brent crude fell 35 cents to $ 54.92 a barrel by the time (09:47 GMT), after hitting its lowest level in the session at $ 54.80 a barrel, recording the lowest price since early April. Brent lost about 13 percent of its value in July, its biggest monthly losses since falling about 19 percent in January, albeit less severe decline this week. Prices moved in a narrower ranges weekly in 11 months with seasonal demand strength, especially for gasoline in the US summer season including contributed to easing the long-term impact of the global supply glut. US crude futures price in September delivery 12 cents to $ 48.57 a barrel, after falling 74 cents at the settlement on Thursday, to $ 48.45 a barrel, the lowest level since March 31. And lost WTI 18 percent of its value in July, its biggest monthly decline since December and the second largest monthly drop in the last seven years.
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