Oil undertone: Brent at $ 55.67
Crude oil prices decline in the international markets. On the platform of ICE Brent changing hands at 55.67 dollars per barrel, a decline of 0.341 percent. Also declined WTI futures, which yields 0.36% and back to $ 52.92.
On Thursday, 12 April 2017, the EIA data on the change in US stocks showed a weekly destocking of 2.166 million barrels against expectations for an increase of 0.087 million and an increase in the previous week to 1.566 million barrels. The data strongly positive for crude assessments, it goes to the decline of these hours of dollar valuations which, as is known, tends to move in the opposite direction to oil prices: the contraction of these hours of the Washington Exchange, after Trump statements (the dollar “is becoming too strong”) therefore supports the black gold prices.
To note that the Egyptian minister of petroleum Tareq el-Molla has announced plans to purchase one million barrels of oil from Iraq per month.
Goldman Sachs also confirmed positive estimates of long-term crude claiming that WTI will rise to $ 57.50 in the second quarter and that Brent will increase to nearly 59 dollars a barrel.
It remains in the background the fear of over-production Use with the EIA which has forecast output growth in stars and stripes by 8.9 million barrels in 2016 to 9.2 million barrels per day in 2017 and 9 , 9 million in 2019.
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