Moscow. 19 April. INTERFAX.RU – Oil quotes rise on Tuesday after four consecutive sessions of decline due to the falling dollar and the ongoing strike of oil industry workers of Kuwait, reported Bloomberg
Quotes of the June futures for Brent crude on London exchange ICE Futures. to 17:26 Moscow time increased by $ 1.11 (2.59%) – up to $ 44.02 per barrel. Earlier quotations rose to $ 44.38 a barrel
The contracts for WTI in May to trading on the New York Mercantile Exchange (the NYMEX) this time went up by $ 1.21 (3.04%). – to $ 40.99 per barrel.
US dollar against the euro by 17:35 Moscow time on Tuesday fell by 0.5% in comparison with the market closing on Monday, to $ 1.1371 per euro. Spot Index, which tracks the US dollar fluctuations relative to the ten major currencies, fell Tuesday to its lowest level since June last year
The American currency declines on weak statistical data on the real estate market – as reported, the number of new buildings in the US in March fell by 8.8% in February, to the lowest since October, 1.09 million in terms of annual growth.
The weak dollar has a positive impact on the prices of raw materials denominated in US dollars.
Meanwhile, Kuwait’s oil industry workers on strike for a third day. On Tuesday, oil production in the country amounted to 1.5 million barrels per day (b / d) compared to 1.1 million b / d in the previous two days. In March, the country produced an average 2.81 million b / d, that is, until production remained 46.6% below this level. The excess oil on the world market in March was 1.6 million b / d.
Meanwhile, the market also contribute to rebalancing producers in Latin America.
According to Reuters, oil production in Venezuela the first quarter of 2016 fell by 11.9% compared to the same period of 2014, to 2.53 million b / d. In Colombia, oil production can also be reduced due to high costs, the analyst WoodMac Patrick Gibson
“It is obvious that production falls in Venezuela, Colombia and Mexico, -. Said the executive chairman of PIRA Gary Ross Board -. Production in Atlantic has been hit hard, and rebalancing is under way “.
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