Oil stopped the growth and retreats by 0.5%

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The price of oil to 16.57 GMT on Monday 4 February was down 0.5% to of 62.42 per barrel for Brent.
The market of “black gold” slightly reduced under correction after morning growth in the area of highs since the beginning of December last year, about 63.6 percent.
Oil prices remain under influence of different economic factors. On the one hand, Baker Hughes, a GE Company (BHGE) recorded last week the decline in the number of oil rigs in the United States for 15 pieces up to 847.
Meanwhile, a certain psychological pressure on oil prices have given by the Iranian state oil company (NIOC), to fix the amount of recoverable liquid hydrocarbon reserves of Iran at a record level 160,12 billion barrels and natural gas at the level of 33.33 trillion cubic meters.
Meanwhile, China in January by 2% increased imports of liquefied natural gas (LNG) to 6.55 million tons. This is a new record for the month of December last year. LNG imports to China last year increased by 41% compared with the 2017 year.
The import of oil to China in 2018 rose by 10% to a record 462 million tons, which is of 9.24 million barrels per day.
The Euro-dollar exchange rate day is around the level of 1,145 insignificant changing in the background of macroeconomic indicators.
So, the dollar is supported by positive data from the labor market. The number of jobs in nonagricultural sectors of the economy increased in January to 304 thousand, while experts expected increase of only 165 thousand.
The investor confidence index in the Euro area in February dropped to minus 3.7 from minus 1.5 points in January. This was the lowest level since November 2014. Experts expect an increase of up to minus 1.1 points. To 16.56 GMT the Euro was down 0.1% to 1,1447 dollar.
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Ivan Marchena,
Analyst
GK Forex Club