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WHICH BOOSTED OIL PRICES

16 August 2019

WHICH BOOSTED OIL PRICES

Despite the fact that in the last two days the price of oil was on the decline, today the price started to rise. Powerful US economy was on the verge of failure, but since retail sales began to increase significantly, the probability of recession has declined.

 

Now statistics the price of oil from different manufacturers:

 

  • Brent - today, the price has risen 58,75 USD per barrel (0.9 percent). At that time, as on Wednesday, the rate fell by -3%, and on Thursday of -2. 1%;
  • U.S. crude oil - today the price has risen 55,12 USD per barrel (1.2 percent). At that time, as at the last session the price fell by -1.4%, in this environment -3,3%;

 

Despite the trade war with China, retail sales in the US is starting to grow rapidly. At today's rates, sales grew by 0.7%. Potential buyers began to buy a certain list of goods. Purchases of cars declined. At the moment when a key part of the yield curve the U.S. Treasury began to rapidly change, the market began to grow rapidly, the demand for stocks of crude oil. Many oil companies now hold sales. The coup of the yield curve of Treasury lets us know that ahead of the market expects a recession.

 

After the network provided data for the week - the profit will be limited. This was followed by a rapid decline of production in China to the very minimum (which was not the last 17 years). With the reduction of Chinese exports, the German economy will reverse in the second quarter.

 

Despite the most unpleasant indicators, the price of oil from Brent over the past year increased by 10%. This is due to the reduction of supply led by the Organization of countries-exporters of oil (OPEC) and its allies, such as Russia.