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Friday, 16 November 02:45 (GMT -05:00)



Stock and commodities markets

Crude Oil Goes Above $80/b, Morgan Stanley Improves Oil Forecast


On Thursday, May 17th, Brent oil exceeded $80/b for the first time in 3,5 years. The last time the price reached this level was on November 25th, 2014.

In particular, the ICE Brent oil futures (London) for July delivery reached $80,18/b. This was a 0,9% gain over the last 24 hours, 8% since early May, and 19,5% since January 1st, 2018.
 
At this point, international experts name a number of reasons pushing oil prices higher. For starters, this is about shrining U.S. oil inventories (minus 1,4 barrels of crude oil and 3,8 million barrels of gasoline for the past week alone) as well as the sanctions the USA is going to impose on Iran in the near future after the former quit the nuclear deal. Another reason is the fact that the oil production in Venezuela has been going down for quite a while. At the same time, hedge funds have been actively betting on higher oil prices amid decreasing oil inventories in OECD states (all the way down to the lows of 2015). It seems that the decline in the global demand for crude oil predicted by the IEA coupled with higher oil production by non-OPEC producers has failed so far to convince international investors that there will be no oil deficit in the near future.
 

Still, chances are the market panic vanishes over time. Experts say there is a huge gap between paper oil and physical oil (oil futures and actual crude oil). To be more specific, there is a major imbalance in favor of paper oil. Still, according to a Reuters source, we may well see the market cleaning up shortly.

Still, Morgan Stanley and Bank of America anticipate higher oil prices over the long term. They
havealreadyimprovedtheir 2020 oilforecastsfrom 65 dollarsperbarrelallthewayupto 90 dollarsperbarrel. The truth is, they have raised the bar due to some tech factors. The thing is, there will be new fuel standards introduced for sea vessels in 2020 amid an increased demand for diesel and aviation fuel while oil refineries cannot handle the increased demand of distillates.

 

 

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Golden Medium: Russia Isn't Concerned About Decreasing Oil Prices

Market Leader reports that the global market of rude oil has been seen a prolonged downtrend after a pretty strong rally seen over a couple of months in a row. Not so long ago, a barrel of Brent oil used to cost 86 dollars. At this point, it costs just 70 dollars. Still, the Russian authorities don't seem to be concerned about this price drop at all. Experts say the see no reason to worry about the situation.
Publication date: 12 November 11:57 AM

Apple's Market Cap Drops Below 1 Trillion Dollars

Apple's market capitalization has dropped below 1 trillion dollars. Market Leader reports that this summer, Apple became the world's first company to reach such a stunning result - market cap over 1 trillion dollars. Apparently, all of that became possible due to higher Apple stock prices.
Publication date: 07 November 02:18 AM

Gold Keeps Losing Its Safe-Haven Asset Status

The amount of political and economic crises keeps on growing in the world but gold is still going down in value. International experts have been trying to figure out the reasons why contemporary investors are investing in other assets instead of gold as it used to be ages. It's interesting to note that they are mostly investing in dollar assets.

Publication date: 25 October 11:52 AM

USA Leaves China Without Crude Oil, Russia Is Ready To Compensate

The trade war between the United States and China is still underway. Earlier this month, America made another attempt to undermine the Chinese economy. The thing is, that up until recently, America used to be one of the biggest exporters of crude oil to China. In summer, the U.S. export of crude oil to China used to be equal to 10,5 million barrels a month. At this point, America has almost suspended the export of crude oil to China. Last month American oil companies shipped as little as 600K barrels, with no oil shipping planned for this month.

Publication date: 17 October 10:29 AM

Evgeniy Filichkin: FortFC Launches pre-ICO

While skeptics armed with political axioms, and complicated math formulas, are trying to persuade the world that sooner or later, the cryptomarket industry is doomed to exhaust its potential at some point in the future, the cryptomarket itself is becoming a part of the global economy.

Publication date: 03 October 09:10 AM

Trump is helpless: oil prices keep going up

Oil prices keep going up. Brent oil has just exceeded $83/b. Obviously, Donal Trump's attempts to urge the OPEC to increase their oil production have filed so far. For those of you who don't know, not so long ago Donald Trump threatened the OPEC in general and Middle-Eastern oil producers in particular with consequences if they refuse to start increasing their oil production to dump international oil prices as soon as possible. However, those threats seem to have had no impact on the OPEC and the prices are still going up. 

Publication date: 01 October 10:15 AM

Trump Will Take Revenge on Middle East because of Crude Oils

Donald Trump threated some Middle Eastern oil producers to take revenge on them because of crude oil prices. This is not the first time the American president is criticizing the Middle East in Twitter for being reluctant to contribute to lower oil prices. 

Publication date: 24 September 10:02 AM

China declares crude oil war on USA

Beijing is now considering the opportunity to cut down on the export of crude oil from the United States in response to Washington's decision to raise the import duties on Chinese products. The energy war between the USa and China may also affect Russia.

Publication date: 11 September 11:55 AM

China's dependence on crude oil increases fast

Over the last few years, China has been getting more and more dependent on the import of crude oil and some other energy carriers. Most of those oil imports are of Russian origin. the thing is that CHina's domestic oil and natural gas production has been contracting over the last few years while the country's production capacities have increased and are now in high demand of more energy.

Publication date: 11 September 10:40 AM

Trump Is Close to His Goal - Oil at $50/b

According to Finanz, President Trump is close to making oil prices drop down to $50/b like never before. Last week was bearish for the global market of crude oil. This happened mainly due to the agreement between the U.S. president and the King of Saudi Arabia.

Publication date: 23 August 11:36 AM