Dynamics

Quotes of the oil market on Monday, October 19 jumped in price to a new annual maximum to a mark of $ 80 per barrel against the backdrop of the fall of the dollar in the currency market FOREX, and also because of the positive trend of the stock markets and adjacent areas.

At the New York Stock Exchange NYMEH cost of the November futures for U.S. light crude rose by 1.08, and its price, therefore, amounted to 79.61 dollar per barrel.

The exchange ICE in London, Brent crude futures price rose 0.78 to 77.77 dollars per barrel.

Causes

On Monday, October 19 quotes on the market of black gold have jumped in price to a new annual maximum to a mark of $ 80 per barrel, by demonstrating with an eight in a row closing on a positive territory against the backdrop of the fall of the dollar in the FOREX market because of growth in risk appetite, based on the optimism about the prospects for reviving the global economy, but also because of the positive trend of the neighboring markets, namely the rise in prices for precious metals and equity grounds, which are updated yearly peaks due to unexpectedly high earnings for the quarter and 3 reported that the economy has recovered and can strengthen the financial system, the part of regulators (Dow Jones industrial average - 10092.19, Nasdaq Composite - 2176.32, SP 500 - 1097.91).

What to expect?

The main event of today's trading session is out of data on stocks of petroleum and petroleum products from the U.S. Institute of Petroleum. Market participants expect to reduce stockpiles of distillates and gasoline, but, however, expect growth stocks of crude oil. Among distillates include heating oil and diesel fuel.

Why worry?

Much of the market participants, and some analysts are skeptical that the increase in demand due to economic recovery, will be sufficient to reduce the huge reserves of oil and fuel accumulated during the most severe economic downturn.

The high price of oil shows a continuing trend of growth in Russia's stock market
RusHydro: Limit of insurance payments ROSNO on the fact of the accident at SSHGES is $ 200 million
When Bernanke is powerless ...
Today in the United States will be published September's data on the number of new buildings
Sell Opel threatened
Publication of Russia's companies reporting for the III quarter of 2009, may also give impetus to the market shares
Interros and direct investment fund JPMorgan Chase will create a company to direct investment in Russia's economy
Many investors in the market are skeptical that the growth in demand associated with economic recovery, will be sufficient to reduce the huge reserves of oil and fuel
Look at today's market