Fri, 20 Apr 2012 05:30:00 +0400
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Yesterday, the oil downtrend accelerated. For instance, WTI oil broke below $27,50 per barrel. The instant and sharp decline in the market of crude oil followed a slight recovery seen earlier on the trading day. It looks somewhat strange given the fact that the recent U.S. oil inventories report seems to be favoring oil prices and backing their recovery. The thing is that the inventories shrank despite expectations of growth.
At this point, oil prices are trying to find the balance while going up and down in a pretty wide range. Even though the price is now recovering, some of the international expert community, including S&P experts, don’t believe that oil prices are going to start a major bull run in the near future.
As you probably know, oil prices are far from being as high as they used to be a couple of years ago. With that being sad, oil exporters start facing major economic and financial challenges. Even Saudi Arabia, which is one of the biggest oil exporters, now has to look for external loans.
As predicted by most experts, the global market of crude oil keeps on seeing another decline. With that being said, everyone is not pondering upon when the market is going to hit the bottom.
This year we have already seen oil prices dropping below $30/b down to $28/b and then recovering above $30/b. Even though some experts assure us that we are not going to see another major price crop in the near future. However, others say that the price are not planning to rally to new local highs either.
OPEC is reported to be planning an emergency summit. The reason is obvious – the oil market downtrend is underway again after taking a short timeout. The participants are going to discuss the ways and means of resisting the unfavorable conditions seen in the global market of crude oil today.
Apple has already done some video-content-related projects and is rumored to be planning to make further progress in this field. Some experts say this is going to be done through focusing on radio shows for the Beats 1 radio station as well as on TV shows and TV series, Market Leader reports.
As of December 2015, Apple is no longer the world’s leading corporation in terms of market capitalization. The thing is that at the end of last year, Apple yielded its leadership to Alphabet (which owns Google).
Even despite the fact that Saudi Arabia and Iran are seeing tensions in their relations, bot of them can actually benefit from Iran’s comeback and lower oil prices. The thing is that they feel like putting up with very low oil prices temporarily only to kill the U.S.-led global shale oil industry, Masterforex-V Academy experts assume.