In the summer, oil prices rise to $ 110 per barrel

Summer, the cost of "black gold" may rise to 110 dollars per barrel. In this sure-known analyst Stephen Schork of the oil market (Stephen Schork). But after the price reached $ 110 per barrel, demand will fall, experts predict. In the early days of this week's oil market, like other commodities, to win back the idea of ??a weak dollar, whose growth was interrupted by the publication of data ADP Services for a reduction of 23,000 places in the U.S. companies. Thus, the prospect of rate hikes the Fed has become more remote, analysts said, "PSB". "It is possible that such a significant rise in oil prices was also supported by the publication of data on the continued growth of industrial orders in the U.S., which noted an increase in 6 months in a row," - noted in the review of the bank. From Friday 26 March WTI crude oil prices on the NYMEX exchange rose by 4.7% to $ 83.76 per barrel. On the London exchange ICE Futures rise futures prices for May delivery Brent crude oil for the same period amounted to 4.3% to $ 82.7 per barrel. Prices of spot contracts for Russian Urals crude on Friday March 26 rose 4.1% to $ 79.28 per barrel. "We note that oil reserves in the U.S. according to the Energy Information Administration (EIA) have continued to grow nine straight week, injuries for week ending March 26, at 2.9 million barrels. up to 354.189 million barrels., thereby returning to the values ??of July 2009 As, movements in oil prices Thursday to the values ??in September 2008, it was more due to technical factors, which later gave way to increased geopolitical risks. On the technical side because of the fact that on Wednesday, oil prices broke and was fixed above the first resistance level of $ 83 per barrel. for Light Sweet and $ 82 per barrel. by Brent, it allowed her to shoot for the goal of $ 85 per barrel. On the geopolitical side quotations of oil held the posts that Beijing, which had previously refused to debate new restrictions on Tehran, has changed its stance and is willing to discuss this issue. Thus, the oil market has again continued to move upwards with an increase in the activity of speculators, "- experts state.