Greece and the American stocks became the reason of depreciation of oil of
Greece and the American stocks became the reason of depreciation of oil
From the middle of May of the price for "black gold" decreased more than for one dollar owing to uncertain forecasting of demand against considerable growth of stocks of oil in the United States, and also fears of an exit of Greece from eurozone.
As reports the Reuters Internet edition, investors are concerned loss of demand for oil as prolonged political crisis in Greece can create even more serious financial lawlessness in eurozone whereas economy development in the Chinese republic is slowed down, and American – is still too weak.
At the same time a little limited reserve possibilities and fears of emergence of interruptions in deliveries also led to a low price threshold.
So, by May 16 June futures for Brent decreased to 110,64 dollars for barrel (the difference with the previous quotations, thus, made, 1,43 dollars). And futures for the American light oil reached 92,08 dollars for barrel, having decreased for 1,91 dollars.
According to the managing director of Astmax Investments, to Tetsa Emory, more or less accepted in this situation it is possible to consider decrease for 2-3 dollars. Because of, we will tell so, languid mood, the market is under pressure. However, proceeding from calculation of balance of a supply and demand, the price for oil are underestimated.
In compliance with the published data of American Petroleum Institute (API), the increase in stocks of oil in states practically four times exceeded forecasts of conducting analysts concerning its changes. It is necessary to remind that stocks of the American oil till May 11 grew by 6,57 million barrels during a week while experts predicted growth of stocks by 1,7 million barrels.