World prices for “black gold” on Friday morning rise in electronic trading on the London and new York exchanges.
Futures for oil Brent with delivery in September on London’s ICE Futures exchange rose 0.50 percent to $46,90 per barrel. August futures on light crude oil WTI on the new York Mercantile exchange (NYMEX) rose by 0.35% to $45,52 per barrel, reports “Газета.Ru”.
Oil prices continue to fluctuate sharply amid current market uncertainty after the collapse on Thursday almost 5% on the data about the weaker-than-expected reduction of stocks of fuel in the United States, on Friday, the contracts were transferred back to growth. Market prospects are still uncertain amid conflicting signals about supply and demand and the increased risks to the global economy associated with Britain’s decision to withdraw from the EU, said”Interfax”.
On Friday, market participants felt that the negative reaction to the inventory data in the United States that caused the price drop to 2-month lows, was excessive. The decrease in reserves has been ongoing for considerably more than a month, oil production in the USA fell by 12% compared to the peak level.
As notes the analyst of Forex Club Irina Rogova, “Brent failed to gain a foothold above the level of 49.00, having a reason for frustration on the part of these from the Agency the U.S. energy information, which is clearly not met the expectations of the market.”
“An additional factor of pressure on “black gold” are the data on decrease in demand in Asia. According to Thomson Reuters, the import of March fell by 12% to 82 million tonnes. However, it is still not enough reason to say that Brent confidently entrenched below the level of $ 47 per barrel, which is strong support where aktiviziruyutsya customers”, — noted in the review of the expert.
She recalled that “on Friday, the attention should be paid to data on the number of drilling rigs operating in the United States.” “In recent weeks the number shows growth. If the report will again reflect the increase in working rigs, Brent may attempt reduction in district-level 46,40. Short-term can not be excluded and deeper fall. But, most likely, the market will prefer to wait for published next week data on world supply and demand”, says Rogov.
