terça-feira, 18 de julho, 2017

Oil operates at high, waiting for new u.s. inventory data

Oil futures contracts operate with modest high on Tuesday morning (18), waiting for new numbers of commodity stocks in the United States. In addition, the weaker dollar contributes to the positive movement. At 7:46 (), the WTI crude for September advanced 0.35%, to $ $46.18 a barrel, on the New York Mercantile Exchange (Nymex), and Brent for September climbed 0.45%, to $ $48.64 a barrel, on ICE. The total production from u.s. shale should advance 113,000 barrels per day in August in comparison with the previous month, to reach 5,585,000 barrels per day, according to the Department of energy (DoE). Case is confirmed, this would be the eighth consecutive monthly advance. Traders await now inventory numbers in the last week of the United States, published at 5:30 pm by American Petroleum Institute (API), after the closing. The increase in American shale production occurs at the moment the market is worried about excess inventories, which show no signs of receding despite the agreement to cut production led by the Organization of petroleum exporting countries (Opec) and with the participation of other industry giants such as Russia. An analyst at brokerage PVM, Stephen Brennock stated that there are few signs that the dispute between OPEC and shale producers come to an end, which should leave the contracts swings within a track, waiting for the next catalyst for the market. This Wednesday (19), will be released the official weekly inventory data from the DoE. In assessing the Global S&P Platts, the oil stocks of the U.S. must withdraw 3 million barrels a day, while gasoline and distillates should withdraw 500,000 and 700,000 in the last week, respectively. In addition to concerns about oversupply, influences the fact that Ecuador has decided not to comply with the production limit imposed by Opec. In trouble and in debt, the Government of Quito said you can''t keep cutting supply, the low prices of the barrel. Initially, the country had undertaken to cut your production in 26000 barrels per day in may, Ecuadorian production was of 528,000 barrels a day, about 1.6% of the total production of the cartel. Ecuador''s decision opens up the possibility that other participants of the cuts also quit before the increase in the production of the United States, Libya and Nigeria. There''s attention on the OPEC meeting in St. Petersburg in Russia, on Monday, when should be discussed the fulfillment of the initiative and the possibility that Libya and Nigeria to join her. A limit on production of the two countries can improve market sentiment, but analysts say don''t expect this in practice remove the barrels from the market. In currency exchange, the dollar is weaker in general this morning, which makes oil cheaper for holders of other currencies and increases the appetite of investors.
Jornal do Comércio - 18/07/2017 Noticia traduzida automaticamente
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