MARKET QUOTATIONS SPAIN.



jueves, 5 de mayo de 2016

Tension in Libya and fires in Canada make Quake price of crude.






A fire in Canada about the tar sands region and the escalation of the conflict in Libya did provide a next oil supply shortages, which drove the prices of crude oil on Thursday, for the first time in a week.

Brent futures gained 1.77 dollars to 46,40 dollars per barrel. The future of the West Texas Intermediate (WTI) totaled 2.03 dollars to 45,82 dollars per barrel.

Fires in Canada was forced to flee to the 88,000 inhabitants of Fort McMurray and razed with 1,600 buildings. He has stopped the activity in numerous oil plants, but while there are no estimates of the volume of the decline of the production.


Outages unscheduled pumping of the members of OPEC, including Libya, held over the 2 million barrels per day (bpd), said higher investment ETF Securities, the number signing in at least five years.

"We believe that the price increases are sustainable and not are not driven only by the speculative gains," said Nitesh Shah, director of strategy at ETF Securities commodity. "It is likely that we will see a deficit in global supply of crude oil for the third quarter of 2016."

Already choked oil production in Libya is at risk of further cuts by the tension between the factions face off in the country, which already prevented that a shipment of Glencore could be loaded.



Meanwhile, the United States production continues to decline. The latest official figures show a decline of more than 8 per cent from mid-2015 to 8,825 million bpd.

Dollar on the rise

The dollar opened the day trading below the representative market rate: its opening price was 2.927 pesos.

Despite the loss of the started session, the currency already exceeds to MDR-TB. His average contribution is 2.950,23 pesos on average.

The minimum price of the currency is 2.926 pesos. Its maximum point reached is 2.968.

Credicorp Capital reminds that the weight returned to weaken in a relevant manner during the day of yesterday (1.36 percent). This behavior was mainly by the sharp fall in the oil price, after the publication of the accumulation of inventories of crude oil in the United States, it came out quite above the expectations of the market. Also, noted a negative behavior in most of the currencies of the emerging economies.

In opening today, oil prices recovered in its entirety losses observed during the last two days, because of the great fire in one of the oil regions of Canada, while U.S. oil production level is at its lowest level since September of 2014.

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