On oil in the next week or two we can expect the scrapping of “sideways”




Asia traded slightly up. In particular, the Chinese stock index CSI 300 adds 0,5%, continuing to respond to a gradual strengthening of the yuan to the US dollar. The Japanese Nikkei 225 indicator adds to 0.16%, reflecting the data on the reduction of outflow of foreign investments from the local stock over the past week. Futures for the American index S&P500 to the current moment loses of 0.1%.

In the oil market last night quotes major varieties lost about 1%. Currently баррельBrentторгуется at $39,68, and баррельWTIдают $37,87. Pressure on prices had OPEC statistics, shipments in March increased by 0.1 million bbl m/m to 32,47 million barrels. In addition, the market there is a growing fear associated with the overflow storage. According to the March estimates by OPEC, the reserves of oil and oil products in OECD countries were at historic highs and, apparently, loose the capacity was almost completely exhausted. After they are filled, the oil producers will be forced to go the extra mile in providing great discounts to the buyers of raw materials, to persuade them to use for temporary storage of oil fleet of supertankers. Thus, oil in the next week or two we can expect the scrapping of “sideways” and test the level of Brent quotes to $37 per barrel.


On oil in the next week or two we can expect the scrapping of “sideways” 31.03.2016

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