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Brent is moving towards a fourth weekly loss
Saturday, 25 July, 2015
Futures contracts for crude oil prices fell, and is heading Brent and US crude to record a fourth weekly decline in a row for them due to weak economic data from China boosted pressure on oil prices.The survey showed the first private sector activity industrials huge in China manufacturing shrank at its fastest pace in 15 months in July, oil has also been subjected to pressure after Baker Hughes Foundation data showed that companies added 21 drilling for oil platform in the United States this week.
The decline in Brent crude settled 65 cents or 1.18% to $ 54.62 a barrel, after hitting its lowest level in the session at $ 54.40 a barrel, hitting the lowest price since early April
Brent lost about 13% of its value in July, its biggest monthly losses since falling about 19 percent in January, albeit less severe decline this week.
It fell US crude futures for delivery in September 31 cents or 0.64% to $ 48.14 a barrel, after falling earlier in the trading to $ 47.96 its lowest level since the first April
And lost WTI 18% of its value in July, its biggest monthly decline since December, and the second largest monthly drop in the last seven years.
And exposure to oil pressure also by the rise of the dollar, as rising US currency makes oil more expensive ingredient to holders of other currencies to the dollar.
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Saturday, 25 July, 2015
Futures contracts for crude oil prices fell, and is heading Brent and US crude to record a fourth weekly decline in a row for them due to weak economic data from China boosted pressure on oil prices.The survey showed the first private sector activity industrials huge in China manufacturing shrank at its fastest pace in 15 months in July, oil has also been subjected to pressure after Baker Hughes Foundation data showed that companies added 21 drilling for oil platform in the United States this week.
The decline in Brent crude settled 65 cents or 1.18% to $ 54.62 a barrel, after hitting its lowest level in the session at $ 54.40 a barrel, hitting the lowest price since early April
Brent lost about 13% of its value in July, its biggest monthly losses since falling about 19 percent in January, albeit less severe decline this week.
It fell US crude futures for delivery in September 31 cents or 0.64% to $ 48.14 a barrel, after falling earlier in the trading to $ 47.96 its lowest level since the first April
And lost WTI 18% of its value in July, its biggest monthly decline since December, and the second largest monthly drop in the last seven years.
And exposure to oil pressure also by the rise of the dollar, as rising US currency makes oil more expensive ingredient to holders of other currencies to the dollar.
[You must be registered and logged in to see this link.]
