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Business / Finance

Review: the price of Venezuelan oil fueled blackout, Euro macrodynamic Germany

Forex Club 05.04.2019 at 14:47

The Price of oil (June futures Brent) on Friday, 5 April 17.24 GMT increased relative to the previous close 0.4% to 69,69 dollars per barrel.

the Market of "black gold" remains near the highs since November last year – beside the round mark of 70 dollars for barrel.

Support remains at the news that Venezuela in the days of blackouts in March, reduced oil production by half to less than 600 thousand barrels of oil per day. Reducing the supply of oil to the world market and maintains statistics about the performance of the obligations of countries belonging to the OPEC agreement+.

the leader of the cartel organizations - Saudi Arabia – is protected from external threats and expressed willingness to withdraw from settlements in us dollars when selling oil, if Washington will accept the bill, allowing to file antitrust lawsuits in U.S. courts against OPEC countries.

meanwhile, the number of active rigs for oil and gas in the world fell in March at 93 pieces, or 4% on a monthly basis, to 2213 pieces. While in Canada, the reduction was 79, or 34.4% to 151 in the United States - 26 pieces, or 2.5% to 1023.

the Euro vs dollar continues to gain a foothold above the round level of 1.12. Support comes from macroeconomic data for Germany.

the industrial production Europe's largest economy rose in February by 0.7% month-on-month, although analysts had predicted an increase of only 0.6%. Thus, the growth recorded for the first time after four months of decline in a row. This has eased concerns about the prospects of the German economy.

To 17.23 Moscow time the Euro exchange rate grew from the start of trading on the last fixing in the range of 0.1% to 1,1227 dollar.

Market, USA, dollar, oil, ruble, Forex club

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