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Oil prices continue to fall
9/2/15
Markets back down again while the manufacturing index does not show an improvement and that "the market is facing up and down, causing large fluctuations in prices.
BAGHDAD / Obelisk: oil prices continue to decline in Asia Wednesday after the release of figures that indicate the weakness of the manufacturing sector in both the United States and China, pending a statistics point to a decline from US oil stocks as analysts expect.
According to a report published by "France 24", and I followed, "obelisk", a barrel of light sweet crude dropped (light sweet infraction,) October delivery of $ 1.14 to $ 44.27. The barrel of Brent North Sea oil, the European benchmark crude October delivery has also dropped 90 cents to $ 48.65.
This decline came after the publication of the index of manufacturing activity in China, which indicates a clear contraction in the sector in August / August in China for the first State of the energy consumed in the world. This could be a further indication of a continuing slowdown to the Chinese economy.
According to figures published by the National Bureau of Statistics, the manufacturing index stood at 49.7 points in August, its lowest level since August / August 2012, compared with 50 in July.
For his part, the US Institute for Supply Management said manufacturing index fell to 51.1, the lowest level this year, compared with 52.7 in July.
Said Daniel Wang, an analyst at Phillip Vetcherz group in Singapore that "the markets back down again while the manufacturing index does not show improvement." "The market is facing up and down, causing large fluctuations in prices."
He said Wang brokers expect a further drop in oil prices after the announcement of US stocks for the week that ended on August 28.
According to Bloomberg News that energy analysts expect an increase in US reserves of 900 000 barrels. The increase in inventories means a decline in demand.
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9/2/15
Markets back down again while the manufacturing index does not show an improvement and that "the market is facing up and down, causing large fluctuations in prices.
BAGHDAD / Obelisk: oil prices continue to decline in Asia Wednesday after the release of figures that indicate the weakness of the manufacturing sector in both the United States and China, pending a statistics point to a decline from US oil stocks as analysts expect.
According to a report published by "France 24", and I followed, "obelisk", a barrel of light sweet crude dropped (light sweet infraction,) October delivery of $ 1.14 to $ 44.27. The barrel of Brent North Sea oil, the European benchmark crude October delivery has also dropped 90 cents to $ 48.65.
This decline came after the publication of the index of manufacturing activity in China, which indicates a clear contraction in the sector in August / August in China for the first State of the energy consumed in the world. This could be a further indication of a continuing slowdown to the Chinese economy.
According to figures published by the National Bureau of Statistics, the manufacturing index stood at 49.7 points in August, its lowest level since August / August 2012, compared with 50 in July.
For his part, the US Institute for Supply Management said manufacturing index fell to 51.1, the lowest level this year, compared with 52.7 in July.
Said Daniel Wang, an analyst at Phillip Vetcherz group in Singapore that "the markets back down again while the manufacturing index does not show improvement." "The market is facing up and down, causing large fluctuations in prices."
He said Wang brokers expect a further drop in oil prices after the announcement of US stocks for the week that ended on August 28.
According to Bloomberg News that energy analysts expect an increase in US reserves of 900 000 barrels. The increase in inventories means a decline in demand.
[You must be registered and logged in to see this link.]
