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The Prices Of Oil Futures Rising

ByMasterforex-V
Published 01/07/2014, 05:22 AM
Updated 07/09/2023, 06:31 AM
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The price of West Texas Intermediate oil rose by 0.4% to 99.10 dollars per barrel according to resent results. The vigorous rise in this market was caused by the economic success of the U.S.A. and by the decrease of crude oil inventories in the country. Thus, the final evaluation of the data showed that in the 3rd quarter of 2013, the US GDP growth reached 4.1%, instead of 3.6% after the initial evaluation, said the analysts of the Masterforex-V World Academy.

In this regard, the IMF intends to revise the growth forecast for the U.S. economy in 2014 in the direction of improvement. Let’s remember that in October, the IMF forecast for the U.S. economic growth was on the level of 2.6% in 2014 and 1.6% in 2013.

Crude oil inventories are falling.
The fall of crude oil inventories has been seen during two consecutive weeks. Last week, stock piles were reduced by almost 3 million barrels. Distillate inventories decreased by 2.11 million barrels.

"We expect that during the day the price of WTI will correct after some significant growth, but tomorrow growth can continue," said the experts of Masterforex-V World Academy. By the end of the year the price per barrel can exceed one hundred dollars of U.S. crude oil.

The price of Brent crude oil has also ended Friday on the rise, reaching 111.69 dollars per barrel. However, there is no strong foundation for this growth. Oil prices were supported by the news about the suspension of the negotiations between the Group of six and Iran's nuclear program before Christmas. Negotiations were expected to resume before the New Year.

We predict that by the middle of the week, the price of the North Sea oil will reach 113 dollars per barrel.
Crude Oil

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