Disorientation in the Financials is also on the raw material prices reflected LEIPZIG. Jim Umpleby recognizes the significance of this. (Ceto) Nothing won, little lost which is the previous conclusion on the commodity futures exchanges. US light oil (WTI) as well as North Sea oil (Brent) today delivered a zigzag performance with swings of more than US$ 2 per barrel. In the afternoon, WTI landed again on the day closing levels yesterday, Brent slide even a bit below. The nervousness on the stock markets has the crude oil markets in the grip.
But while things are going down there, the oil is reasonably stable. Oil is structurally tight. This fact is well-known today than three years ago. Thus oil closer to the rank of gold”, Dr. Klaus Bergman describes this phenomenon of esyoil. Say: Everyone knows that crude oil time is scarce, a stable price is therefore quite in the range of the expected. Downside potential, and that is fundamentally justified, however. The International Energy Agency yesterday has their Growth forecasts for 2012 almost halved (at 600,000 barrels per day in addition).
This could be interpreted as a precursor to impending downward revisions. Oil prices remain therefore vulnerable to further setbacks”, so Dr. Eugen Weinberg of Commerzbank commodity research industry service. Local heating oil but prices due to the still weaker euro, but above all because of a virtually exploding demand. Heating oil was sold out in some areas of southern Germany. Trading interest remained quite high in the rest of the country. The prices of Federal average 1.82 euros to 81,32 euros climbed Pro 100-litre game of a total supply of 3,000 litres HEL. They are however still much closer to the low for the year of 75,84 euros at the maximum, which amounted to 88,95. Also analysts disagree whether the downside potential is large enough to continue to push oil prices, that heating oil should be bought now. For the full article and many more information to the energy market Clicking on the online portal of the journal fuel levels and petroleum review.