The cost of the July Brent crude oil futures trading at the opening on May 9 has exceeded $ 46. Quotes are growing amid reports about the resignation of the Saudi Minister of petroleum and reduction of forest fires threatening supply in Canada
at the opening of trading on the London Stock Exchange ICE on Monday, May 9 , the price of a barrel of Brent crude oil broke the $ 46 mark in Friday’s trading to close at $ 45.37. At the peak (at 01:31 MSK), the July Brent futures cost $ 46.48, and later there was a rebound and as of 6:40 MSK Brent is trading at $ 45,81.
The growth of quotes, notes Bloomberg news agency, comes amid fires near the center of the extraction of oil from tar sands in the Canadian province of Alberta and the news of the resignation of the minister of oil of Saudi Arabia, Ali al-Nuaimi.
«The market is being cautious because of the Canadian fires and support prices a little higher, considering that fires occur in close proximity to the main production region, “- said agentsvo Bloomberg David Lennox, an analyst at Sydney Fat Prophets Fat.
Financial Times reported earlier, citing analysts of the British consulting firm Energy Aspects, that forest fires in Alberta led to a reduction in supply from this region to 800 thousand. bbl. / day. According to analysts, “the situation remains volatile and can be expected to further disruptions».
According to David Lennox, the market impact and the situation in Riyadh. “There is no doubt that the policy of Saudi Arabia is working, we are seeing a decline in US production. The situation with the reserves, likely will not allow to happen a serious rally, “-. Said analyst
The resignation of the Saudi oil minister took place on Saturday, May 7, in the framework of large-scale shifts in the Saudi government on the background of the approved in late April of the program countries. The son of the Saudi king Mohammed bin Salman after the adoption of the plan said that by 2020 Saudi Arabia “will be able to live without oil».
At the same time, as noted by The Wall Street Journal, the sharp rise in oil prices after the appointment of the new Minister of energy of Saudi Arabia came as a surprise to some experts, who expected drop in prices after the department was headed by Khalid al-Falih, head of Saudi Aramco oil company.
Several sources in OPEC told the WSJ, that the appointment of al-Falih could mean deeper politicization of the oil kingdom’s strategy to neutralize his rival -. Iran
«Iran has always been a rival to Saudi Arabia, even during sanctions [imposed by Western countries against Iran], when Iran still has exported more than 1 million barrels of oil per day in Asian countries “, – explained the publication head of research at Energy Aspects Amrita Sen
another reason for the jump of oil prices at the opening of trading on Monday WSJ calls the growth of data. oil imports to China, presented on Sunday the country’s main customs control. China in April, imported 32.58 million tons of oil, equivalent to 7.96 million barrels per day. This figure is 3.2% higher than the data for the previous month and close to record levels at 8.04 million barrels recorded in February.
No comments:
Post a Comment