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Oil extends losses with a weak outlook for the global economy
Thursday, 03 September, 2015
On Wednesday, after the purer concern for the global economy continued fears of oversupply for a longer period than expected.And undermined the data on the manufacturing sector in China and the United States and Europe, global stock markets, analysts said an increase larger than expected in US stocks and weak US manufacturing industries adversely impact on sentiment in the oil market.
The decline in prices on Wednesday after the US and London Brent crude losses on Tuesday, which amounted to eight percent and ended the rally of 25 percent over three sessions in the biggest gain of its kind since 1990.
And went down in October Brent crude contracts for 75 cents to $ 48.81 a barrel by 0915 GMT.
US crude fell to $ 44.41 dollars a barrel.
Oil prices fell after data from the American Petroleum Institute on Tuesday, crude oil stocks in the United States 7.6 million barrels to 456.9 million barrels in the week ending showed on August 28.
Analysts polled by Reuters had expected inventories to increase by 32 thousand barrels only.
Analysts had predicted the stability of markets until the US Energy Information Administration issued official statements of the stock in later in the day.
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Thursday, 03 September, 2015
On Wednesday, after the purer concern for the global economy continued fears of oversupply for a longer period than expected.And undermined the data on the manufacturing sector in China and the United States and Europe, global stock markets, analysts said an increase larger than expected in US stocks and weak US manufacturing industries adversely impact on sentiment in the oil market.
The decline in prices on Wednesday after the US and London Brent crude losses on Tuesday, which amounted to eight percent and ended the rally of 25 percent over three sessions in the biggest gain of its kind since 1990.
And went down in October Brent crude contracts for 75 cents to $ 48.81 a barrel by 0915 GMT.
US crude fell to $ 44.41 dollars a barrel.
Oil prices fell after data from the American Petroleum Institute on Tuesday, crude oil stocks in the United States 7.6 million barrels to 456.9 million barrels in the week ending showed on August 28.
Analysts polled by Reuters had expected inventories to increase by 32 thousand barrels only.
Analysts had predicted the stability of markets until the US Energy Information Administration issued official statements of the stock in later in the day.
[You must be registered and logged in to see this link.]
