Yesterday, prices were falling on the seventh day in a row. On the New York Stock Exchange NYMEX (New York Merchantile Exchange) cost of the January futures price of U.S. light crude oil Light Sweet Crude Oil fell by 0.13 dollar - up to 70.54 dollars per barrel. January futures price for North Sea petroleum mix of mark Brent Crude Oil at London exchange ISE (InterContinental Exchange Futures) following trades fell by 0.53 dollar - up to 71.86 dollars per barrel. But this morning the price of WTI crude oil rebounded slightly from yesterday's lows of the day, but remain below $ 71 a barrel. The price of oil depends on the quotations of the dollar. For several days we have witnessed the growth of the dollar and therefore fall in the value of "black gold". "In addition, the closure of long positions on crude oil began on Monday when the U.S. currency began its ascent to the main competitors", - analyst Promsvyazbank. Strengthening of the dollar contributed to a statement by U.S. President Barack Obama. According to him, the program will save the financial system (TARP) to $ 700 billion, was less expensive. Impact on investors, and many other, mostly negative news. For a long time, market participants were worried by the problems with the sovereign wealth fund of Dubai, which is, in fact, was unable to meet its obligations to creditors. Standard & Poor's downgraded the rating outlook of Spain to "negative" and warned that he could be downgraded rating of the country. Earlier debt rating was downgraded Greece by Fitch to "BBB +" with a negative outlook because of weak financial institutions, security and political situation in Greece. Thus, the agency gave the world understand that there are doubts about the ability of these two countries pay their debts. Obviously, if serious problems arose in countries that are part of the Eurozone, it means that even more difficulties have traditionally been weak states in Eastern Europe and Latin America. As a result, market participants began to dump stocks, bonds, riskier assets in developing countries and buy dollars. This had a negative impact on the market. In addition, quotes, oil began to fall even further after the publication of Energy Information Administration (EIA) is very negative data, which indicate lower than a year ago, the level of oil consumption in the U.S.. Moreover, a year ago prices were much lower than now. But today the situation has stabilized. Decreased concern of investors about the situation around Dubai and Greece. Dubai stock market went up sharply yesterday, as his stock index DFM jumped by 7%. "This was facilitated by a message that manages the largest bond fund company in the world PIMCO (Pacific Investment Management Co.) Actively buying up debts of Abu Dhabi, Qatar and the company's Ras Laffan Liquefied Natural Gas", - said the report "PSB". In addition, made known financier George Soros. He stressed that neither Greek nor British governments do not default on debt obligations of their countries, "Of course, Greece and Britain, and Dubai will have to bring their finances in order. But no one will allow them to default" - convinced financier. Also allow the market to breathe calmly, and a number of other positive news. U.S. budget deficit in November totaled $ 120.3 billion at the preliminary forecasts this figure at $ 131.6 billion, "The number of applications for unemployment benefits dropped to a minimum for the year. At the auctions in Asia is dominated by purchases. The main reason for optimism isolated strong data on the industry in China. In November, China's manufacturing sector gained 19.2% compared with the period a year earlier, exceeding the consensus forecast, projected growth on 18,2% ", - said Alexander Volinsky, Managing Assets Ltd. The investment house" "The main trend in the economy has not changed," - commented Bank.ru BCS analyst Maxim Shein. The dollar will fall. All programs to stimulate the economy persist. Interest rates in the near future will not increase. Cheap dollars to market a lot. Greece and Spain are the European Union. If anyone of them to default, the entire financial system "lies." They will not be allowed to do so. Many experts say that, traditionally, December - while profit-taking. But as statistics show, the amount of funds that come to us from abroad, from foreign funds, are growing. So far everything is now fixed its position. If you now drop the paper and come up with the market, one would have to come early next year and buy these assets at Bole high prices. It is not logical. The ruble will be strengthened further. If you look at other currencies of developing countries, which together with our devalued the ruble, we see that there is the cost has increased practically to the level of 2008. And we up to 23 rubles per dollar long time to grow. In the short term, the ruble may strengthen to 26 per dollar Rubel. We have a good balance of trade is a capital inflow. I do not think that oil prices fall below $ 70 a barrel. I note that you need to pay more attention to the average price for the quarter. How much oil is today or tomorrow, investors are not interested. And the average for the fourth quarter we will get 72-73 dollars per barrel. The falling dollar and oil, the office we watched for a few days - just a short term correction, "- says the expert.
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