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Brent is dipping in price below $47 per barrel

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Brent is dipping in price below $47 per barrel

Brent is dipping in price below $47 per barrel
July 19
09:00 2016

The concerns about the growth of oil supply in the world market contribute to the fact that on Tuesday the price of raw materials is creeping down. Brent crude oil is being traded at a price below $47 per barrel.

The anxiety of market participants into the account of potential disruptions of the “black gold” transportation because of the military coup in Turkey came to naught. It has a positive effect on the drop in prices by 1.5% on Monday.

During last weeks the market has been balancing on expectations, which contradict one another.  The market is analyzing multidirectional signals about the balance of supply and demand in the world oil market. It is predicted that the official statistics will show a further decline in stocks in the United States market on Wednesday.

Quotations of futures contracts for Brent crude oil with September delivery at the London Stock Exchange have fallen by 0.4% – to $46.77 per barrel by the beginning of the day.

Futures contracts for WTI crude oil for August have fallen in price by 0.5% – to $ 45.00 per barrel at electronic trading on the New York Mercantile Exchange by now.

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