– Oil demonstrated a significant decline in trading on Monday, amid falling concerns about the situation in Syria.
The price of the June futures for Brent on London’s ICE Futures exchange to 14:01 Moscow time on April 16 fell by $0,76 (1,05%) – to $71,82 per barrel.
WTI for may delivery in electronic trading on the new York Mercantile exchange (NYMEX) has decreased to a specified time for $0,73 (1,08%) – to $66.66 a barrel.
Last week, oil prices recorded the highest growth in eight months and rose to the highest level since the end of 2014.
Thus, despite the continued rally, the number of bets on the increase in the price of WTI fell last week for the 3,275 th – 441,634 thousand, the lowest since early January, according to the Commission on urgent futures trading in commodities (CFTC) of the USA.
However, betting on the rising cost of Brent in the past week reached a record.
At the weekend the international coalition forces launched air strikes on several facilities in Syria. Feared by the participants of the oil market, suggesting that the strike may cause disruptions of fuel supplies from the regions or to retaliatory measures by Russia or Iran.
However, as experts point out, in the course of the strike was not affected by the position on which the presence of Russian military, and direct confrontation was avoided. In addition, the President of the United States Donald trump and Minister of foreign Affairs of great Britain, Boris Johnson stressed that the measures are a one-time action.
“Oil is cheaper on the background of consensus about what the future US military intervention in Syria will not” – says the analyst of PVM Oil Associates Steven Brennok.
In addition, on Friday, oilfield services company Baker Hughes reported that the number of operational oil installations in the U.S. last week rose by 7 compared to a week earlier, hitting a new high since the beginning of 2015, up to 815 drilling.
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