Thursday, December 22, 2016

U.S. Oil Reserves Went Up by Strengthened 2.25 Million Barrels Last Week | EQUITYWORLD FUTURES

EQUITYWORLD FUTURES  : U.S. Oil Reserves Went Up by Strengthened 2.25 Million Barrels Last Week
Equityworld Futures-Keep the oil losses below $53 a barrel after data showed US crude reserves rose for the first time in five weeks, rising an unexpected that exacerbate dependency against inventory. Oil futures for February, little changed in New York after 1.5 percent down on Wednesday.

The supply of crude oil rose by 2.25 million barrels last week, according to a report from the Energy Information Administration. Analysts surveyed by Bloomberg forecast a decline of 2.5 million barrels, while data from the industry also suggests a decline.

OPEC and producer countries from outside groups that agree to trim production next year will hold on to that commitment, said Minister of energy of Russia.

EQUITYWORLD FUTURES : Gold Stuck In $ 2 Tight Range, Awaits US Data

Gold has been hit hard by the surge in the dollar after the US election of 8 November, and Netanyahu's more tone from the US after the Federal Reserve raise interest rates last week for the second time in a decade.
Bullion closed nearly flat in the previous session. Spot gold XAU= was up 0.1 percent at $1,132.04 an ounce by 0049 GMT.  U.S. gold futures GCcv1 were little changed at $1,133.60 per ounce. The dollar index .DXY, which measures the greenback against a basket of currencies, slipped 0.1 percent to 102.960. It reached 103.65 on Tuesday, which was its highest since December 2002. [USD/]

Oil has traded close to $50 a barrel since the Organization of petroleum exporting countries last November agreed on 30 trim production for the first time in eight years. Non-OPEC producers including Russia and Mexico will also trim the supply.

Meanwhile, U.S. crude oil inventories remain at the level of seasonal highs since the EIA began collecting weekly data in 1982. West Texas Intermediate crude oil for February delivery was at $52.59 per barrel on the New York Mercantile Exchange, up 10 cents, at about 08:15 a.m. Hong Kong time. The WTI contract was down 81 cents to $52.49 per barrel on Wednesday.

Total trading volume of about 85 percent below the average of 100 days. Brent oil for March delivery lost 89 cents, or 1.6 per cent, to $54.46 a barrel on the ICE Futures Europe exchange, based in London, on Wednesday. Global reference crude oil ended the session $1.97 more than WTI. EQUITYWORLD FUTURES


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