The positive in the world oil market may be quickly exhausted, and in the best case, the increase of oil prices will last until the end of the week. This forecast gives the Deputy Director of analytical Department of “Alpari” Anna Kokoreva.
She recalls that “oil prices this morning have gone up sharply, in time the price of Brent crude oil (may contracts) rose to $41,39 per barrel, now North sea oil is trading around at $40.5 per barrel”. “For WTI with delivery in April offered $39,1 per barrel. Morning bulls gradually comes to naught”, — is spoken in the comment of the expert.
According to her, “the sharp rise in oil prices was caused by results of session FRS the USA.” “Yesterday after the meeting the fed left its key rate unchanged, lowered its forecast for the growth rate of the U.S. economy. The us regulator also announced that this year refuses a fourfold rate increase as planned. Now it is only possible two promotions until the end of the year. For investors this means that the fed this year will be to conduct a more moderate policy than previously planned. In this regard, the dollar began to lose ground. The weakening dollar boosts oil prices,” — says Kokoreva.
However, she says, “positivity can be quickly exhausted, the quotes have a step backward, in the best case the increase in oil prices will last until the end of the week, unless I hear additional positive news”.
