Large profits from pertol in poor year
In the worst year for the oil market in history, investors can realize huge profits, just as stored oil, according to Bloomberg. Buyers of levels of 40.81 U.S. dollars on 5th December may sell futures contracts for delivery next December at a price of 54.65 U.S. dollars for a barrel or 34 percent net income.And after paying for the storage of raw materials and the necessary fees will profit reached 11 percent according to Andy Lipol, president of consulting company Lipow Oil Associates. Profit from such speculation is the largest in 12 monthly futures from 1998 onwards, when the market is overloaded and the price of crude oil fell with 10 US dollars.
Today at the beginning of the session of the European markets for supply contracts of U.S. light crude oil in January to get 5.19 percent, to 42.93 dollars for a barrel after Friday cheapen by 2.86 dollars to 40.81 dollars for a barrel. The appreciation of oil due to the speculation that the next regular meeting of the oil exporting countries of 17th December in Oran, Algeria, the cartel will decide on a new reduction of quotas for mining and supplies on Saturday after the president of the organization Shakib Kelly said to the Associated Press, that a "serious" reduction in quotas.
At the same time, new president of the U.S. Barak Obama announced this weekend in a huge plan of measures to stimulate the economy, which is expected to be created 2.5 million jobs in America. This return of investor optimism M stock and commodity markets and support the appreciation of oil futures. Last week the price of oil fell by 25 percent, which is the largest weekly drop of the first Gulf War in 1991.
Labels: Financial News
posted by Zoritza Petrova @ 2:09 AM
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