World prices for “black gold” on Monday morning, reduced in electronic trading on the London and new York exchanges.
Futures for oil Brent with delivery in August on London’s ICE Futures exchange slipped by 0.27% to $of 48.28 per barrel. August futures on light crude oil WTI on the new York Mercantile exchange (NYMEX) fell by 0.57% to $of 47.37 per barrel, reports “Газета.Ru”.
Oil continues to become cheaper due to the ongoing instability in the markets after the unexpected results of the referendum in Britain on EU membership, said “Interfax”.
Meanwhile, the number of operating oil rigs in the US, meanwhile, fell during the previous week 7 to 330, it follows from the overview of Baker Hughes. The previous three weeks, this figure has grown.
As pointed out by a senior analyst at GK Forex Club Alena Afanasyeva, “Brent remains under pressure due to obvious factors.” “First, the flight from risk indicates confidence in world economic growth, and hence to the recovery in global demand for energy. Second, the growth of interest in the US dollar in the last trading session was created unfavorable conditions for denominated in USD, dynamics of oil,” says the review expert.
In her view, “to understand what to bet on, it makes sense to determine the measure of influence of two such factors.” “Fears of investors about the pace of global growth may persist over the coming weeks that will limit the growth of Brent. All attempts to strengthen of oil will give rise to a serious rebuff. And this is a negative factor. The flight from risk means demand for safe haven currencies including the US dollar. And Yes, in this case, the Brent every chance to remain under pressure, which is not to say that the reports of oil reserves from the API and energy will not be influenced. Yes, Brent could make an attempt to gain a foothold above 50.00, but they will be accompanied by a correction,” — says Afanasiev.