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Oil is heading towards record weekly losses
2015/11/6 19:29 • 9 visits readable
{International: Euphrates News} crude oil prices heading towards record weekly losses on Friday, November 6, where glut in the supply of crude and rising dollar led to disrupting the market.
Khami rates and offset measuring some of its losses in early trading, but analysts believe that the opportunity vulnerable to the occurrence of a continuing recovery.
Was trading futures US crude for December delivery / December by 14:41 Moscow time, at $ 45.47 a barrel, up by 27 cents , representing 0.60% of the settlement price of the previous session.
The futures rallied to a combination "Brent" global delivery the same month increased by 45 cents, or 0.94%. But the global Brent crude is still down toward the more than 2% from the previous week.
And these gains come after sharp declines in the previous session on rising US crude inventories. Some analysts pointed out that the oversupply will continue to put pressure on the oil markets.
She said, "bmi" Research of the agency "Fitch" credit rating "with high production of major oil producers, the decline in the US shale crude production will not be enough to balance the bloated oil market about supply during the next two years ".
The US currency rose by about 5% against a basket of other major currencies since early October / October, amid market expectation that the US Federal Reserve Board {Fed} the first among major central banks, which raise interest rates since The global financial crisis in 2008-2009.
He said, "ANZ" Bank on Friday: "Speculation has increased that the US Federal Reserve to raise interest rates will put pressure towards low on commodity prices," he said, adding that he expected US crude decline in futures 3% in the next three months because of the US producers to reduce the cost.
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