Wednesday, December 10, 2014

Oil prices again after touching lows Iran’s ultimatum – Expansión.com

Oil prices again after touching lows Iran's ultimatum – Expansión.com

continues the downward spiral in oil prices. The downward revision OPEC did in its 2015 demand forecast deepened losses of oil, which ended in summer 2009 lows Brent closed at $ 64.2 and $ 60.9 in West Texas.

Oil prices today suffer another setback and sink about 5% after the OPEC (OPEC) has revised downward its forecasts for global demand by 2015.

In his new estimate the cartel expects demand to increase by 1.12 million barrels per day (b / d) until the day 92.96 million, representing a decrease of 70,000 b / d from its previous forecast.

By 2014 the organization estimates that global demand will rebound in about 930,000 b / d, 12,000 less than expected in November. The decline, according to OPEC, due to lower consumption in member countries of the Organization for Economic Cooperation and Development (OECD).

The new forecasts cartel had a negative impact on the Oil prices, which increase their drop in recent weeks. The price of Brent, the European benchmark, sinking 4.34% ($ -2.9), to $ 63.94, minimum July 2009. The West Texas Intermediate, the US benchmark, fell 4.51% ($ -2.88), to $ 60.94 a barrel, near the $ 60.43 they set their minimum five and a half years.

Both the European reference as American lows are in summer 2009 after the collapse suffered recently. In so far this year Brent has depreciated more than 40%, while the West Texas builds a fall of 40% in the last six months, which is its biggest drop since 2008. The June 20 US a barrel I was at $ 107.26, up from less than $ 61 in listed now. Not since 2008 to find a further deterioration in the price of Texas. In July of that year trading at $ 145.29 a barrel, and in December that its price was less than $ 40.

The new setback suffered by the black gold today must also be traded the unexpected rise who have experienced the weekly US crude inventories. According to data provided by the Department of Energy, in the week ending December 5 stocks of US oil rebounded by 1.5 million barrels, compared with a decrease of 3 million barrels analysts expected. Gasoline stocks rose 8.2 million units, while distillate heating did 5.6 million barrels.

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