Vitaliy Shevchenko, an analyst company UMIS, currency market, the oil sector, non-ferrous metals

Dynamics

Trades on Thursday at the market of black gold have shown a weak divergent dynamics. Oil prices to minimize losses after falling to seven-level, due to the negative data on oil stocks, returning to the point 60.00 dollars a barrel.

At the New York Stock Exchange NYMEH cost of the August futures for U.S. light crude oil went up by 0.27 dollars and its price, therefore, amounted to 60.41 dollar per barrel.

At the ISE Stock Exchange in London, the cost of oil brand Brent rose 0.67 to 61.10 dollars per barrel.

Causes

quotes prices in the oil market on the basis of trading session have shown little growth. The band was interrupted due to projected losses of the IMF and the activity of Chinese consumers. Prior to the IMF released a report, which was upgraded the forecast growth in world GDP in 2010 to 2.5% from the previous 1.9%. In addition, the IMF also raised the forecast of growth in Asia in 2009 from 4.8% to 5.5%. Confirmation of such optimistic projections are not long in coming. The growth of quotations also contributed technical indicators and pereprodannost in recent days.

What to expect?

Concerns about future demand still remain, particularly in the United States. But most of the possible reduction in oil prices is behind us. If prices fall much below $ 60 a barrel, probably will be people who perceive it as an opportunity to buy. Moreover, the level of 60 dollars per barrel is estimated at a strong level of support, a technical factor can play almost the main role.

What is fear?

But not so early to go to the bulls on oil. Most stock indices have lost due to fears that global economic recovery would be prolonged in a reduction in corporate profits. And this, in turn, can pull in a market of black gold down.

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