The price of the oil jumps in view the Saudi energy minister which declared about an agreements between Saudi Arabia and Russia
The two of petroleum exporting countries, which accounts to 26% of the aggregate global output, have signed a joint venture to open the cooperation in the oil market. The two sides will monitor the market and join forces in an attempt to block the flux in the oil market over the past year.
The crude oil WTI rising by 0.3% to 43.25 dollars per barrel.
Russian President Vladimir Putin said today that Russia is interested in an agreement with the OPEC countries to freeze production scale of the oil.
Commodity market:
The oil is back rising after falling by 1.2% yesterday.
The WTI is rising by 0.4% to 47.18 dollars per barrel.
The US oil inventories rose by 1.5 million barrels last week and tomorrow will be published data on US oil inventories.
The future contracts on the leading indices on Wall Street stable opening of trading day. at the background of European stock markets declines, the declines in oil prices and after the trading on the Asian stock markets ended in a mixed trend.
Commodity market:
The price of oil continues to fall after closing on Friday, the first negative week in a month.
The WTI oil is falling by 1.7% to a price of 46.81 dollars per barrel.
The oil loses height:
The price of a barrel of Brent falling by 2.2% and is traded on world markets for $ 48. The price of a barrel of WTI have fallen by 2.5% to $ 49.6.
The trading on world markets will be held this week on the background of the US real estate data.
It closely related to the low interest rate environment in the US
The trading on Wall Street last Friday ended with a decline, but the Nasdaq ended his eighth consecutive weekly with a rise.
The oil enjoyed increases last week by 9% at the backdrop of the meeting of Organization of Petroleum Exporting Countries (OPEC) to be held this week.
The futures contracts on the leading indices on Wall Street signalling on positive trend at the opening of trading today, while in the background the volatility in oil prices, a mixed trend on European stock exchanges, and after a mixed trend at the Asian stock markets.
Yesterday the trading on Wall Street ended with declines.
The Asian stock markets trading is conducted today with a positive trend in view of the falling oil prices.
The WTI oil falling by 0.4% this morning to a price of 41.5 dollars a barrel, following a decline of 2.5% yesterday stemmed from an increase in output in the United States and Saudi Arabia.
US inventories data:
The US Energy Manager reported a short while ago that the WTI oil inventories increased last week by 1.1 million barrels, while the expectation was for a decline of 1.75 million barrels.
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