Dynamics

Quotations in the oil market on Tuesday 18 August, showed a significant increase in price due to the fall of the dollar against most currencies against the backdrop of a sudden reduction in oil reserves in the United States, as well as the positive sentiment on the stock sites worldwide.

At the New York Stock Exchange NYMEH cost of the September futures for U.S. light crude oil rose by 2.44 dollars and its price, therefore, amounted to 69.19 dollar per barrel.

At the ISE Stock Exchange in London mark Brent oil price rose to 72.38 dollars per barrel.

Causes

On Tuesday, August 18, quotes in the market of black gold has added to the price due to a favorable European and U.S. macroeconomic data that raised expectations of growth in energy demand. Thus, the index of economic expectations in Germany in August was 56.1 against 39.5 in July, consumer price index in Britain has not changed from the previous month, while the expected rate of decline at 0.2%, but was largely unexpected decline in stockpiles Oil in the United States - according to the API report as at August 14, the oil reserves of energy in the United States were characterized by the following week changes: Crude oil - reserves decreased by 6.134 million barrels of 342.377 million barrels, gasoline - Stocks dropped on 847 thousand barrels and amounted to 212.568 million barrels of heavy distillates (fuel oil and diesel fuel) - Stocks rose by 1.529 million barrels of 161.042 million barrels. Imports of crude oil fell by 1.027 million barrels per day - up to 8.876 million barrels per day.

From the news it should be noted that the JSC Lukoil in the first half of 2009 increased oil production by 4% compared to the same period last year - up to 1,981 million barrels per day. Crude product hydrocarbon group Lukoil in the first half amounted to 2.22 million barrels of oil equivalent per day, which is 2% higher than the level of the same period of 2008. Oil production in the first half of 2009 amounted to 48.63 million tons. In doing so, oil production in Southern Hylchuyuskom field, which entered into service in 2008, reached nearly 3.2 million tons. During the reporting period, commercial production of gas amounted to 7.36 billion cubic meters. meters, including those abroad were produced 2.35 billion cubic meters. m. (by 26,2% more than in 2008), in Russia - 5.01 billion cubic meters. m. (lower 23.4%). The decline in gas production in Russia is linked to reduced purchases by Gazprom. The volume of oil to its own refineries (including the share of the processing on a set of ISAB) has increased in the first half to 10.4% and amounted to 29.97 million tons. Increased volumes of Russian oil refinery in the group amounted to 0.3% in overseas plants - 51,2%.

What to expect?

The main positive factors in the market of black gold are a drop in the dollar across the spectrum of the market, as well as an unexpected decline in oil reserves in America, according to the Institute of Oil United States. Contributed to the growth and make a positive mood in equity markets. Today is worth paying attention to the official record of the stocks of oil products from the Ministry of the United States.

What is fear?

negative side for the black gold is the technical picture, which gives more and more signals on the sale due to move the indicators in the area perekuplennosti, which may push investors to fixed income.

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