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Message: [QUOTE="Vistabrokers, post: 82628, member: 32993"] [B]Vista Brokers: Brent Updated 2015 High[/B] [IMG]http://s018.radikal.ru/i518/1505/e8/38e77fde3abe.jpg[/IMG] On Wednesday, rally in the oil market continues, and during morning trading the "black gold" has grown on the average by $1, updating this year highs. Vista Brokers analysts name some current major factors of support for oil. Firstly, it is protests in Libya, because of which has stopped the supply of oil from the port of Zueitina. Secondly, it is the weakness of the US dollar after the release of disappointing trade balance statistics on Tuesday. And thirdly, it is the reduction of oil inventories in the United States. At the time of writing, Brent crude oil has reached the high of $ 68.30, gaining 78 cents. Previously, the price has updated this year high at $ 68.53. WTI crude oil rose in price by $ 1.08 to $ 61.48. Recall that in April both brands have shown a significant growth (by 20-25%), despite the fact that soon it will be the meeting of OPEC, where it is expected that exporting countries will not take decisions on oil production cuts again. In Libya Zueitina terminal remained one of the few oil shipped out of the country, where for several years the civil war continues. Now it is closed - competing political forces in Libya are trying to take control of the country's rich oil industry. As they decide who has more rights to power, oil production in Libya was reduced to less than 500 thousand barrels per day, which is only the third part of the volume, which was produced here until the beginning of the war. Support for oil prices has also a decline of the US dollar, which is down against a basket of major currencies the fourth consecutive week. Yesterday it became known that the US trade deficit in March rose to 51.37 billion - the highest level since October 2008, showing the highest monthly growth from December 1996 (43.1%). This has led to talks about that the US economy in the first quarter of 2015 will show a decline. Let us dwell on the third supporting factor. Also on Tuesday was released the data on crude oil inventories from API, which showed a decline for the first time this year. So, the last week, US crude inventories fell by 1.5 million barrels, while analysts had expected the growth by 1.5 million barrels per day. Today, the market is expected for the confirmation of inventories reduction from EIA (official data). [/QUOTE]

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