High oil prices after the decline in US production
10/17/2015 0:00
SEOUL (Reuters) -
Futures for crude oil rose on Friday to break losing streak a week as investors bet that the decline in US production will reduce the excess global supply, while gasoline and distillate inventories fell in the United States more than expected, but analysts warned that the recovery of the price may not endure because of the expected increase of the Iranian offer. The decline in global measurement Brent 4.5 percent this week and hue more than a quarter since May.
And increased contract nearest the new entitlement to Brent December 54 cents delivered the equivalent of 1.09 percent of the record of $ 50.27 a barrel after having closed up four cents at $ 49.73 a barrel.
Brent crude November delivery down 44 cents to $ 48.71 a barrel on Thursday before for the decade.
rose contract nearest maturity for US crude November 64 cents delivery or 1.38 percent to $ 47.02 a barrel after to determine the settlement price down 26 cents or 0.6 percent to $ 46.38
barrel., said Daniel Ange investment analyst at Phillip Futures in Singapore: »the market to respond to the decline in US crude, which has resumed its downward
production.« Even if crude prices rise now we may see the return of Iranian crude to the market what will be paid to low again. I think that the decline is likely to end this year. »
[You must be registered and logged in to see this link.]