Singapore – Oil Prices Rises Thanks To Strong Demand; Crude oil prices rose on Thursday amid estimates that demand has risen in the first half of the year, but indicators of renewed slowdown in the Asian economy prevented further gains.
According to national estimates sent to the shared data initiative went global oil demand in the first six months of this year compared with the same period of 2014 due to lower crude prices by half and large declines in the prices of most fuels in many consuming countries.
It said that the initiative consumption amounted to 71.4 million barrels per day on average over the first six months, up from 69.1 million barrels per day a year ago, an increase of 2.3 million barrels per day, equivalent to 3.3 percent.
Traders said the political risk premium returned to the oil market in light of air strikes that Russia and the United States waged in Syria without coordination.
In the US markets strengthened Joaquin hurricane strength in the Atlantic Ocean has become a perfect storm as the US hurricane center said expectations but models do not agree on whether it will reach the coast of the United States.
At 06:38 GMT, US crude rose 60 cents from the previous settlement to $45.69 a barrel. And it increased futures for Brent 45 cents to $48.82 a barrel.
The limited liquidity during the Asian transactions because of the start of the Chinese national holiday that lasts eight days.