Daily Analysis oil - Friday, 03.20.2015
For oil has oil futures prices fell on Thursday after Kuwait said that OPEC does not only have to maintain the level of production stable market for renewed focus on global supply glut with the recovery of the dollar from the previous day's sharp decline.
Was Brent and US crude went up about two per cent each on Wednesday after being spotted by the Federal Reserve (the US central bank) that it will raise interest rates at a slower rate than expected, which Tga on the impact of data rising US crude stocks to a record level show.
The dollar saw its biggest decline in six years after comments by the Fed, which boosted oil and metals priced in the US currency has become less expensive in terms of other currencies campaign. But the dollar rose two percent against the euro in trade on Thursday.
By the end of trading, the price of Brent crude for May delivery settled at US $ 1.48, or 2.56 per cent to $ 54.43 a barrel after rising about five percent on Wednesday. Brent came down from levels above $ 115 last June to near $ 45 in January
