Oil slightly tightened (more than 2/3) for the last time, asks at the start of the year to 12-month low (when the oil has lost 75% of its value). However, according to some experts, the bad times for raw materials still likely to come- for AMarkets materials.
The weakest spot - the melting demand against a background of low economic activity.
Another problem as a consequence of the first - an excess of oil on the market. Already it reached the point that the country previously imported oil began to be exported.
The possibilities are almost exhausted oil storage. Profits from refining at a minimum. In particular, it is actively exporting refiners China and Japan. Currently, raw materials offer outstrips demand by 1-2 million barrels per day. The essential point - the margin of gasoline producers (the margin of business in the commodities market) has fallen by 40% since March.
In Singapore, gasoline inventories at historical highs - 15 million barrels. This is an extremely important point, because Asia - the main buyer of oil refining products. For example, last year, developing Asian countries accounted for 50% of the total volume of purchases of gasoline and other oil derivatives.