24 DECEMBER 2012: THE OPEC DOESN'T WANT THE PRICE OF OIL TO BE LOWER THAN $100
Arne Treholt Vice-President of Business Development and Investments
Last trading session in America was closed with drop, the index S&P500 lost 0,94%. Price stopped at the level of 1430,15 points. Dow Jones lost 0.91%. With approach of 2013 tension at the stock markets increases: the problem of "fiscal cliff" isn't solved, moreover, investors are getting new reasons for concerns. So, the speaker of the House of Representatives of the Congress of the USA John Beyner cancelled vote according to the project of republicans in connection with insufficient support of the ideas, thus, the resumption of negotiations between republicans and democrats is expected only after Christmas, and for achievement of the agreement they will have only 4 working days.
The most part of "blue chips" included in index finished session in "a red zone". The most notable decrease showed Bank of America (-2,00%), Exxon Mobil (-1,87%) and Walt-Disney (-1,86%), in plus there was only American Express (+0,44%) and McDonald’s (+0,16%).
Recently we heard news which can become the reason of correction of the world markets at the beginning of the next year. The prime minister of Italy Mario Monty retired on Friday, but thus declared on Sunday that he will consider opportunity to stand for the second term at parliamentary elections on February. Chances to get the second term are insignificant.
As a whole rather quiet situation remains in the oil market. Quotations are consolidating within the trade range of the last months. All attempts to leave out from these limits are unsuccessful. Among the latest news of the sector, it is necessary to note the message of several news agencies referring to the minister of oil of Iran - Rostam Ghasemi. According to him, the OPEC will hold an emergency meeting if price of oil falls lower than 100 US dollars. Besides he also noted that the price of oil is predicted to be higher than 100 dollars for barrel in 2013. This morning we can see Brent on a level of 108.78.
Gold and silver are stable this morning and a slowly recovering from the minimum levels we have seen last week. Gold is traded on a level of 1663.22 and silver is on a level of 30.236. As a whole, for this year prices of gold grew by 5.9% and this is the 12th year of growth of metal. One of the reasons of the high prices is demand of the world Central Banks which buy up metal for hedging of the risks. Nevertheless, judging the last data of the Commission of the market of futures of the USA, rates on further rally of gold fell to 13% to 112.42 thousand contracts.
The most part of "blue chips" included in index finished session in "a red zone". The most notable decrease showed Bank of America (-2,00%), Exxon Mobil (-1,87%) and Walt-Disney (-1,86%), in plus there was only American Express (+0,44%) and McDonald’s (+0,16%).
Recently we heard news which can become the reason of correction of the world markets at the beginning of the next year. The prime minister of Italy Mario Monty retired on Friday, but thus declared on Sunday that he will consider opportunity to stand for the second term at parliamentary elections on February. Chances to get the second term are insignificant.
As a whole rather quiet situation remains in the oil market. Quotations are consolidating within the trade range of the last months. All attempts to leave out from these limits are unsuccessful. Among the latest news of the sector, it is necessary to note the message of several news agencies referring to the minister of oil of Iran - Rostam Ghasemi. According to him, the OPEC will hold an emergency meeting if price of oil falls lower than 100 US dollars. Besides he also noted that the price of oil is predicted to be higher than 100 dollars for barrel in 2013. This morning we can see Brent on a level of 108.78.
Gold and silver are stable this morning and a slowly recovering from the minimum levels we have seen last week. Gold is traded on a level of 1663.22 and silver is on a level of 30.236. As a whole, for this year prices of gold grew by 5.9% and this is the 12th year of growth of metal. One of the reasons of the high prices is demand of the world Central Banks which buy up metal for hedging of the risks. Nevertheless, judging the last data of the Commission of the market of futures of the USA, rates on further rally of gold fell to 13% to 112.42 thousand contracts.
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