Course oil to keep from falling but still below$ 60
On Thursday Brent had refrained from falling to new lows and even strengthened slightly at the end of the day, finishing in the area of 57,70 dollars a barrel after Bouncing from day’s highs at around $ 58.
The oil market closely monitors the signals from the trading front, where there is a lull, and the yuan stabilized, which resulted in the return of income.
This in turn eased the pressure on the quotes of black gold, but also to more robust growth has pushed the players are still cautious, especially given the unpleasant aftertaste from the bear report Ministry of energy, who suddenly reflected the growth of reserves and production in the shale deposits of the United States.
Little pleased with market participants reported that imports of crude oil to China grew by 14% in July amid rising demand from refineries. This data is a bit muted concern of market participants about the economic slowdown and decline in oil demand in the second largest country in the world.
While yesterday’s rebound of Brent rather like the local rebound, which at any moment may be replaced by a new round of sales, if the interest risk will again fade away. In this context, investors will continue to monitor the developments around the trade war, the United States and China. Further escalation of the conflict is able to send quotes to new lows under the mark of 56 dollars for barrel.
Academy of management Finance and investment