Oil went on the offensive more expensive on the 1.9% on the day
The price of Brent crude oil on Tuesday 18 June was increased relative to the previous close of 1.9% to 62,09 dollars per barrel.
The market of “black gold” is trying to gain a foothold at 62 dollars per barrel, moving from morning minus into a plus.
On the one hand, investors fear signals of braking of world economy, reducing the demand for energy. Thus, the fact that OPEC+ can not agree on the dates of its summer meetings, was also not helping oil prices to rise. In particular, OPEC suggested that the June meeting to move on 8-12 July. Earlier, the summits of OPEC and OPEC+ planned, accordingly, on 25 and 26 June.
Meanwhile, OPEC+ the assurances of Saudi Arabia, is determined to save parameters production cuts in the second half. In the background are the risks of a supply disruption of energy supplies through the Gulf of Oman after the recent attacks on tankers. This is a supportive factor for oil prices. Finally, in the same direction and work expectations are easing, if not the monetary policy of the fed, the rhetoric this week.
Meanwhile, the energy information administration (EIA) us Department of energy has estimated that production of shale oil in the largest oil and gas producing regions of the United States in July, will increase in comparison with June on 70 thousand barrels per day to 8.52 million barrels a day – about 70% of the total oil production of the United States – about 12.4 million barrels per day.
The Euro against the dollar again slides below the round mark of 1.12. Investors play back the statements of the ECB head Mario Draghi about the intention of the regulator again to ease monetary policy and reduce interest rates (or a buyout of the assets), if annual inflation to begin to return to the target level of 2%.