Oil prices rise sharply after a strong fall


Translated by Ollie Richardson for Fort Russ

15th December, 2015


Global oil prices have stopped falling and have started to rise. The reason for this was the expectation of news from the Federal Reserve system of the USA, which tomorrow should take the decision to raise rates, and the expectation of statistics on oil reserves in the USA. This is evidenced by the trade data.

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Today the cost of the February futures for North sea petroleum mix of mark Brent has grown 1. 83% to 38,86 USD per barrel, with the price of January futures for oil of mark WTI has grown 1.67% – to 36,91 USD per barrel.

The interest rate hike by the fed, according to analysts, will cause the dollar to strengthen, which may lead to an increase in the price of oil for investors holding foreign currency.

Also, it will affect the price of oil on the Russian market and the position of the ruble. The data on oil reserves in the United States may also raise the cost of black gold on the world market.

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