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Business / Finance

Overview: the oil updates 5-month highs above $72, Euro clings of $1.13

Forex Club 17.04.2019 at 14:07

The Price of oil (June futures Brent) on Wednesday 17 April to 16.42 GMT increased relative to the previous close of 0.1% to 71,79 per barrel.

the Market of "black gold" has renewed on Wednesday, the highest since November last year (72,28 dollar) and trying to gain a foothold near the round level of $ 72 per barrel. Support comes from strong economic data in China and information on reducing the volume of fuel reserves in the United States.

In particular, China's GDP in the first quarter grew by 6.4% yoy, which was better than expectations of experts forecast a rise in this indicator by 6.3%. The positive from this side gives hope for an increase in oil consumption is the second largest economy in the world.

meanwhile, the American petroleum Institute (API) recorded a decline last week commercial oil reserves in the U.S. 3,096 million barrels after rising a week earlier to 4,091 million barrels. The same official data of U.S. Department of energy will release later Wednesday. Experts expect an increase of 1,711 million barrels.

meanwhile, the Saudis are expanding their presence in the promising Indian market. Saudi Aramco is negotiating the purchase of 10-15 billion dollars. up to 25% in the business of refining and petrochemicals Indian Corporation Reliance Industries (RIL). Final agreement on the transaction price can be achieved in June this year. The deal consultant appointed investment Bank Goldman Sachs.

the Euro vs dollar continues to mark time round about the mark of 1.13, after yesterday's drawdown below it.

Affected by the increasing risk appetite in global markets after the release of positive macroeconomic, arrived from China. The growth of the Euro against the dollar traditionally signals the return of investors to riskier assets.

In summary, 16.41 GMT the Euro had risen since the start of trading on the last fixing by 0.1% and amounted to 1,1301 dollar.

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

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