Oil prices fell below $ 50

Цены на нефть упали ниже 50 долларов

Traders had doubts about the validity of the recent price hike of black gold.

World oil prices are falling Friday, may 27, because of doubts of participants of the market the validity of their recent growth to a record from late last year, 50 dollars per barrel. At the same time, by results of the week the price increase is nearly 3%.

As of 8.00 in Kiev July futures for Brent crude on London’s ICE Futures exchange fell 0.9% to 49.16 dollars a barrel. Quotes contracts for oil WTI with delivery in July in electronic trading on the new York Mercantile exchange (NYMEX) by this time has fallen on 0,8% – to 49.10 per barrel.

Today investors are waiting for the speech of the head of the U.S. Federal reserve chair Janet Yellen to learn her stance on raising interest rates in June.

“The fed can be a major factor. The increase in interest rates will mean a higher dollar, higher dollar leads to more expensive oil, which could trigger the sale of commodities,” – said the risk Manager of the oil market, the company Mitsubishi Corp. Tony Noonan.

The preservation of oil near $ 50 is not enough to force the company to again review its investment program, however, gives producers some stability after the collapse of prices early in the year is below $ 30. Current price level is quite low, to stimulate economic growth in many countries, including the USA, writes The Wall Street Journal.

As reported the Correspondent.net oil production by the OPEC countries in April increased by 330 thousand barrels per day (b/d), reaching 32,76 million b/d – the maximum since August 2008.

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According to the materials:

Interfax,
RIA Novosti
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