Tuesday, May 7, 2013

Expected increase in global oil prices cause concern strike Israel - Syria.

Brent crude oil prices are expected to move in the frame. 105.50 to 106.01 U.S. dollars / barrel. WTI oil prices will move in a range from 93.58 to 94.65 U.S. dollars / barrel. The Dubai crude oil price is moving in the frame. 102.90 to 103.41. USD / barrel.

The price of crude oil increased by a factor of geopolitics in the Middle East could affect oil supply to the world's major exporters. Israeli missile attack destroyed the Fateh-110 operating in the territory of Syria. It is believed that such weapons were transported from Iran to Hezbollah in Lebanon, and the group fell into the hands of Hezbollah, and the Israeli city of Tel Aviv within firing range of the weapon. The Syrian authorities have reported that the attack caused damage to houses and people and the deaths of a number of such attacks.

However, the economy of the euro zone remained weak PMI index and indicate a contraction of the sector (the PMI below 50 points) a month, the 15th consecutive, the China HSBC report index PMI in service sector fell. Tap down to the lowest level since Aug. 54 due to a number of new services in China is the lowest level in 20 months, and has been reported to reduce the workforce for the first time since January 52.

The Morgan Stanley analysts believe that Brent crude oil market will tighten further in the June 56 due to a reduced supply in Nigeria and Ekofisk crude oil production in the North Sea.

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