The cost of a barrel of oil at the London ICE exchange electronic 20:27 MSK amounted to $43,90 by 3.22% below the closing price. At 19:50, she fell even to $43.60 despite the fact that at the opening of trading maximum prices hit $46,48/bbl.
As the Financial Times the volatility in the oil market on Monday reflects the uncertainty in investor sentiment. They, according to the newspaper, wondering which factor will be stronger, forest fires, oilfield in Canada or the strengthening of the dollar, coupled with the change of leadership in the energy sector of Saudi Arabia.
As a result of declining canadian exports to 1 million barrels. on the day prices of us crude WTI caught up with Brent crude. However, during the day, prices had started to fall after the information is received that the fire is shifted away from deposits and a strengthening of the dollar. Pressure oil is also provided analysts ‘ forecasts that Saudi Arabia will increase production to a record under the new Minister, says the FT.
Oil speculators last week for the first month reduced rates on the growth of quotations on the background of doubts about the sustainability of the recent rally, based on expectations of reduction of the glut in the market and sudden disruptions in supply, writes The Wall Street Journal. According to ICE, the publication, last week hedge funds and other investors to reduce bets on higher prices after Brent, has set a historical record on their number.