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Brent shows the growth due to the tension in Venezuela

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Brent shows the growth due to the tension in Venezuela
January 25
09:00 2019

On Friday, “black gold” is rising in price during the Asian bidding process; the reason for this is the possible shortage of export from Venezuela.

Brent futures with the expected delivery in March have grown by 1.2% to $ 61.8 per barrel. On the eve, the price fell to 61.1 US dollars.  March contracts for WTI have risen by 1.4% and are currently being traded at a price of $ 53.4.

Earlier it was reported that president Trump had recognized Juan Guaido as the interim President of Venezuela. After America, several countries in Latin America, Canada and some other countries did the same.

After this news, Nicolas Maduro, whose elections were declared illegal by many, said he would break all relations with the United States. He gave the American diplomats three days to leave the country.

Such a decision can cause new US sanctions against Venezuela. They may contain restrictions on the oil export. Experts suggest that the sanctions will make it impossible for Venezuela to ship a few hundred thousand barrels of oil per day.

The US Department of Energy reports that oil reserves have grown by almost 8 million barrels. Experts suggested quite the opposite, saying that reserves would be reduced by 750 thousand.

The expected growth of gasoline reserves by 3 million barrels actually has turned out to be more by 1 million. Distillate stocks have decreased by more than 600 thousand barrels, while the growth was suggested to be 900 thousand.

The US production level remains unchanged. This is a record value since 1983 – 11.9 million barrels per day. The purchase of oil has increased by 664 thousand barrels per day.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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1 Comment

  1. Sanford
    Sanford February 06, 07:01

    Today, I went to the beach with my kids. I found a sea shell
    and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed.
    There was a hermit crab inside and it pinched her ear.
    She never wants to go back! LoL I know this is totally off topic but I had
    to tell someone!

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