The oil price has updated two-month lows near the $ 75

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Oil prices little changed on Wednesday, especially in comparison with the scale of the fall the day before. Brent, updated 2-month lows on the way to level 75, by the end of the day settled in the area of 75,70 and closed in a small minus. In the morning on Thursday prices konsolidiruyutsya in the flat, trying to determine the motion vector.
The official report of the US Department of energy played the role of a stabilizer of prices. Despite the fact that the data pointed to growth stocks are higher than forecast – by 6.35 million barrels against expectations for a gain of 3.7 million, and is the fifth week of volume increase in a row, the players calmly took release, content that the result was not as horrific as the data API. In addition, the negative smoothed reduction of stocks of gasoline by almost 5 million barrels against the expectations of growth.
However, the American data now constitute the local history and have a lower importance for the market, which stares in the direction of Iran, against whom will soon enter into force sanctions. The players appreciate everything that happens in the world market through the prism of the “Iranian factor” and is now worried about the hints of Saudi Arabia to the maximum possible production increase by the countries of cartel.
If the Kingdom really will confirm their intentions and will point to the existence of sufficient free capacities to prevent supply shortages, it will continue to play against rising prices.
It is also important to consider the overall risk sentiment in global financial markets, which looks very unstable and deteriorated again after some recovery yesterday. It also contributes to the rise in Brent as a risky asset.
So, the short-term risks to the black gold quotes remain displaced in the South direction.
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Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS