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Main » 2016 » September » 19 » Oil prices rise on the capture of Libyan oil ports
Oil prices rise on the capture of Libyan oil ports


Oil prices rise on the capture of Libyan oil ports

Oil prices rebounded in early Asian trading after the news, it was reported that the two ports at the weekend were seized during the military conflict in Libya.



Formation for the protection of oil fields in the central region - Petroleum Facilities Guards, who until this month controlled Libyan oil ports after the death of Muammar Gaddafi, has won two ports - Sidra and Ras Lanuf, which are located in the central part of the coast of the country. It happened on Saturday night.

"The oil market reacted to the news, but we must not forget that this may be a temporary factor and the rising cost of oil may be a short-term", - said Vaillant Lei, analysts National Australia Bank.

On the New York Mercantile Exchange for WTI US crude futures price rose $ 0.80, or 1.9%, to $ 43.84 a barrel.On the ICE futures exchange in London, Brent neftimarki costs increased $ 0.76, or 1.7%, to $ 46.53 a barrel.

However, permanent and extremely high surplus stocks in the United States of petroleum products, together with an almost record-high volume production by the Organization of Petroleum Exporting Countries have on world oil prices and the downward pressure.

Recall that OPEC plans to hold informal talks on September 28 in Algeria, but the head of the cartel Mohammed Barkindo said late on Saturday that no agreement will not be achieved.

This week, market participants will be watching the meeting of the Bank of Japan and the US Federal Reserve.Both central banks are expected to take decisions that will impact on the global financial markets. On Wednesday, China will also publish its final figures on oil imports, which last month was at the highest level in history, and was 32.85 million barrels.

Oil is a key factor in the current international economy and quotes is this raw material could have a very significant impact on exchange rates in many countries.



Based on materials WELTRADE

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