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Oil loses gains on expectations constantly oversupply
10.14.2015 a
Oil gave up its gains to close lower, after renewed the International Energy Agency fears of continuing oversupply in the market.
Said Andrew Lipo Lipo Head of Oil Associates "There are still a lot of crude oil in the market and I'm with the International Energy Agency in that supply exceeds demand this year and in 2016."
And determine the settlement price of Brent futures for November delivery at $ 49.24 a barrel, down 1.24 percent and the equivalent of 62 cents. The Brent above $ 50 earlier in the transaction.
US crude closed at $ 46.66, down 0.93 percent, or 44 cents, which wiped out earlier gains more than a dollar in technical transactions.
The International Energy Agency, the oil market will remain oversupplied for at least another year despite a drop in the supply of non-member producers in OPEC.
Traders pointed to the weakness of the US dollar, which hit its lowest level in three weeks earlier on Tuesday, it gave some support to oil prices when it was high.
Hastings said "there is some uncertainty about the direction of trading in the US dollar markets and some transactions in the oil due to hopes that the dollar fall further."
But the IEA forecasts do not receive consensus.
Analysts said the Energy Ospkedz The market focus is slowly shifting from the existing glut to the possibility of tight supplies in the future and the possibility that prices witnessing Tefrh.anthy 29/4 e
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10.14.2015 a
Oil gave up its gains to close lower, after renewed the International Energy Agency fears of continuing oversupply in the market.
Said Andrew Lipo Lipo Head of Oil Associates "There are still a lot of crude oil in the market and I'm with the International Energy Agency in that supply exceeds demand this year and in 2016."
And determine the settlement price of Brent futures for November delivery at $ 49.24 a barrel, down 1.24 percent and the equivalent of 62 cents. The Brent above $ 50 earlier in the transaction.
US crude closed at $ 46.66, down 0.93 percent, or 44 cents, which wiped out earlier gains more than a dollar in technical transactions.
The International Energy Agency, the oil market will remain oversupplied for at least another year despite a drop in the supply of non-member producers in OPEC.
Traders pointed to the weakness of the US dollar, which hit its lowest level in three weeks earlier on Tuesday, it gave some support to oil prices when it was high.
Hastings said "there is some uncertainty about the direction of trading in the US dollar markets and some transactions in the oil due to hopes that the dollar fall further."
But the IEA forecasts do not receive consensus.
Analysts said the Energy Ospkedz The market focus is slowly shifting from the existing glut to the possibility of tight supplies in the future and the possibility that prices witnessing Tefrh.anthy 29/4 e
[You must be registered and logged in to see this link.]
