Wednesday, January 7, 2015

Brent crude fell below $ 50 – RBC

Brent crude fell below $ 50 – RBC

Photo: Fotobank / Getty Images

Brent prices January 7 pierced the psychologically important level of $ 50 per barrel. At 11:25 MSK February futures price at auction in London ICE Futures dropped to $ 49,70.

The US WTI crude oil also continued to fall in price at auction in New York, where at 11:25 MSK for it gave $ 47,05.

Since the beginning of this week, the price of oil fell by more than 10%, and in June 2014 – more than double.

The sharp decline in oil prices due to the general a slowdown in global economic growth. Agency Reuters, referring to the opinion of analysts, notes that the likely further decline in prices, as market saturation increases.

The notice of the bank ANZ, published on Wednesday, January 7, it is noted that in the near future to continue the risk of further lower oil prices. Analysts credit institutions believe that the first will begin to decline of oil shale, but this will not happen until mid-2015.

A former board member of the Bank of Japan Nobuyuki Nakahara told Reuters, that, in his opinion, kept prices in recent years above $ 100 per barrel were historically abnormal. “I would not be surprised if the price falls of up to $ 20 … This is simply due to supply and demand. For oil, there is a ceiling, because high energy prices slow economic growth, “- he said.

The Russian Ministry of Finance expects the average oil price in 2015 will be around $ 60 / bbl. According to the head of department Anton Siluanova, the average rate of the dollar at these inputs will be 51 rubles., Annual inflation reached 10%, and the economy will shrink by 4%.

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