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Overview: oil has renewed its high since the end of may after the incident in the Strait of Hormuz

Forex Club 11.07.2019 at 15:11

The Price of oil (September futures Brent) on Thursday 11 July to 16.46 GMT increased relative to the previous close of 0.2% to 67.12 USD per barrel.

the Market of "black gold" in the morning updated its maximum since the end of may in the area of 67.6 per barrel, then a few slipped in the correction, remaining in the black.

Support to oil quotations was rendered alarming reports about another incident in the Strait of Hormuz. According to American sources, 5 small ships allegedly owned by Iran, close to Persian Gulf, the British oil tanker and demanded to stay close to Iranian territorial waters. However, the frigate escorts of the Royal Navy HMS Montrose was issued a verbal warning, supposedly, the Iranians, calling on miss the ship on which they agreed. Iran denies belonging to the country involved in the incident vehicles.

in addition, into the hands of "bulls" played by the information Bureau of Safety and Environmental Enforcement, BSEE that the oil companies, the U.S. has reduced oil production in the Gulf of Mexico by 31.9% due to the tropical storm that could develop into a storm.

Thus, the upward trend of oil prices persists and let one of the traders Forex Club earn in a day more than 3 million dollars in long positions in futures on the mark Brent.

meanwhile, OPEC in June, exceeded its commitments under the agreement OPEC+, 22%, reducing the oil production on a monthly basis by 68 thousand barrels per day to 29.83 million barrels per day.

At the same time, commercial stocks of oil and oil products in OECD countries in may increased by 41.5 million barrels in the month and on 96,8 million year on year to 2,925 billion barrels. This is 25 million barrels higher than the five-year average value, which is the purpose of OPEC+ in the transaction.

Experts expect an increase in OPEC oil demand in the world in 2020, the same as this year, 1.14 million barrels per day above the psychologically important 100 million barrels per day.

the Euro against the dollar is stable at around 1,125 after growth the day before. Pressure on the dollar persists on expectations of easing in July, a US Federal Reserve monetary policy (DCT).

To 16.44 GMT the Euro exchange rate increased from the start of trading on the last fixing by 0.03% to 1,1255 dollar.

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

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