Investors' attention to sanctions against Iran and the reduction in supplies of Iranian oil were the main reasons for the rise in oil prices on the previous Monday.

The value of November futures for the North Sea oil blend of Brent brand grew by 0.81%, to 78.27 dollars per barrel, October futures for WTI oil - by 0.42%, to 70.06 dollars per barrel. Analysts believe that exports from the country's third-largest raw materials producer falls faster than expected, and the worst is yet to come. According to sources of the publication, the deliveries of the national oil company of Iran National Iranian Oil Company (NIOC) will drop to 1.5 million barrels of oil per day in September against 2.3 million barrels in June.

In early August, the first block of sanctions came into effect, and in November, it is planned to implement a second one, which will extend to the energy sector, operations related to hydrocarbon raw materials and related to Iran's central bank. Against this background, international companies began to close their contracts for the purchase of Iranian oil or reduce the volume of supplies under existing contracts, fearing the effect of US secondary sanctions.
Tuesday passed under the sign of the approaching hurricane "Gordon". Oil traded in different directions, the growth of the US WTI brand supported the decision to close two drilling platforms Anadarko Petroleum Corp in the Gulf of Mexico on the eve of the storm. Reduction of drilling activity in the US, as a rule, has a positive effect on oil prices, as it signals a possible decrease in production and supply volumes. At the same time, Brent crude continued to fall in price amid lower fears of investors in the reduction of supplies of Iranian oil.

On Wednesday, the oil market experienced general decline, after the fears associated with Hurricane Gordon eased. The price of November futures for the North Sea oil blend of Brent brand decreased by 0.42% - to 77.84 dollars per barrel, October futures for WTI oil - by 0.7%, to 69.38 dollars per barrel.

The decline continued the next day due to negative dynamics in emerging markets, which, as investors fear, could lead to a slowdown in global economic growth. In addition, the US Energy Ministry reported that gasoline stocks in the country increased by 1.8 million barrels to 234.6 million for the week to August 31, while a 0.8 million barrel decrease was expected. Distillate stocks climbed 3.1 million barrels a week to 133.1 million barrels. The indicator was forecasted to grow by only 0.7 million barrels. At the same time, oil production in the United States for the week, according to the ministry, was 11 million barrels per day, remaining at record levels. Oil reserves at the country's largest terminal in Cushing have increased by 0.5 million barrels to 24.8 million barrels. Many analysts note that production in the US is growing more slowly than at the beginning of the year, amid the lack of buyers of this oil.

The week ended in multidirectional dynamics. The price of November futures for the North Sea petroleum mixture Brent was down 0.04% to $ 76.47 per barrel, October futures for WTI crude oil - up 0.09% to $ 67.83 per barrel. Reuters quotes the opinion of the partner of Again Capital Management, John Kilduff, that the slow rise in crude oil in the terminal in Cushing is a minor "bearish" factor, and the absence of Chinese buyers of American oil leads to depressing data on export volumes. The extraction in the US, in his view, is not growing at such a rapid pace as it was at the beginning of the year.

 

 

Company news

26.09.2018 Removing the HAL and WU from CFD-instruments. Read more ...
26.09.2018 Changes in the specification of contracts for CFD-instruments on American shares from October 1, 2018. Read more ...
24.09.2018 Week of the super benefits from Bulltraders.com! Read more ...
14.09.2018 New agent terms for Bulltraders.com customers. Read more ...
05.09.2018 Temporary suspension of trading on instruments AAPL, AMZN, FB. Read more ...
Show all

Expert view

16.09.2018 How to predict crypto-storm Read more ...
16.09.2018 Apple to influence the US stock market Read more ...
16.09.2018 Oil to move up Read more ...
10.09.2018 Cryptocurrencies and cultural life Read more ...
10.09.2018 Short week at the US stock market Read more ...
Show all

Market news

Show all

The payment services are provided by Cauri LTD, 20-22 Wenlock Road, London, N1 7GU, UK, registered number 09507138
(check https://register.fca.org.uk), Win Pay (check http://win-pay.biz).

RISK WARNING STATEMENT. TO ATTENTION OF TRADERS AND INVESTORS!

Our services include products that are traded on margin and carry a risk that you can lose more than your initial deposit. The products may not be suitable for everyone - please ensure you fully understand the risks involved. There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. It is the responsibility of the Client to ensure that the Client can accept the Services and/or enter into the Transactions in the country in which the Client is resident. If the risks involved seem unclear to you, please seek independent advice.

 

CLIENT AGREEMENT PDF
PRIVACY POLICY PDF
RISK DISCLOSURE STATEMENT PDF
REFUND AND RETURN POLICY
AML&KYC POLICIES PDF
FRAUD VERIFICATION PROCEDURE PDF
REGULATIONS OF TRADING PDF
RESPONSIBLE ATTITUDE