Oil as a whole remains rather pessimistic mood. The market still lives by concerns about excess supply on the world market, analyst GK Forex Club Irina Rogova.
“Besides, it became known that Saudi Aramco is the largest oil exporter in the world, announced a price reduction on brand of raw Arab light sweet. The price for September delivery was lower by $1,30 from August. And this is fraught with another round of price wars in the struggle for their market share,” — said the expert.According to analysts Forex OBR Anastasia Semenova, “the medium-term picture for the market of black gold remains negative, so short bursts of activity of buyers can be seen as an opportunity to open new short positions is still low, but more attractive levels. Brent may again test the level of 42 USD./barrel, break of which will open the way to new April lows and the next psychological level of $ 41/barrel.”
As reported IA REGNUM, today, 3 August, the world prices for oil will grow moderately amid reports the American petroleum Institute (API) on the reduction of oil reserves in the country and greatly depreciating the U.S. currency. As of 07:42 GMT the price of Brent oil rose 0.41% to $41,97 per barrel, the price of oil WTI — on 0,51%, to $39,71.
