Oil lost 5%, the speculators are pushing the price down

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On Thursday quotes of “black gold” deepened the recession, having lost a level 55 the first time since September last year. Brent has touched mark 54,57, and to the closure corrected in the region of 55,losing during the day about 5%.
Despite the obvious oversold, Brent could not find the bottom, partly for the reason that fundamental factors which put pressure now on the market, the speculative component is added, and its influence should not be underestimated.
Speculators triggered a chain reaction as the resumption of sales they connect to the game, resulting in a strong drawdown in prices. The reasons for such behavior are the same – mistrust of OPEC, concerns about global demand, high activity in the shale deposits of the United States. Recall that crude oil inventories in the United States last week fell by only 0.5 million instead of the projected 3 million barrels.
At this stage there is no guarantee that the felt bottom, and now prices will recover. On the contrary, the risk of the upgrade minimums are quite high. Given the skepticism of international investors in General, which is rally Santa Claus continue to liquidate long positions in the shares future sales in the segment of risky assets can send Brent to around 53, however, the attempts to lift the oil still attracts sales.
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Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS