Le Lézard
Classified in: Oil industry, Business
Subjects: ECO, AVO

Royston Carr Asset Management Comments as Brent Oil Rises Above $80 Due to Supply Worries

TAIPEI, Taiwan, May 17, 2018 /CNW/ - Royston Carr Asset Management research analysts commented on recent Oil price fluctuations as they hit their highest since November 2014 on concerns that more than a million ?barrels of oil could disappear once U.S. sanctions against Iran bite later ?this year. ?

Also driving prices higher, investors were bracing for a deepening economic crisis ?in Venezuela which risks disrupting exports from the major producer. The political ?uncertainty in the OPEC member state and widespread expectations that ?Donald Trump is likely to re-impose sanctions fuelled fears of a deeper supply shortage. ?

Key analysts at Royston Carr Asset Management noted that Brent and WTI crudes hit a new three-and-a-half-year peak? on Thursday's ?morning trade. On the New York Mercantile Exchange, West Texas ?Intermediate futures rose 70 cents, or 1 percent, pushing above $72 a barrel for ?the first time since November 2014. ?

Michael Tadic who is the Head of Corporate Trading at Royston Carr Asset Management commented "Oil could correct a bit lower as stronger dollar may cause investors retreat from ?buck-denominated assets." ?

"Yet, another bearish signal was IEA's warning that higher prices could weaken ?demand, which in turn could cap the market," he added. ?

Prices for Brent crude oil futures, the international benchmark for oil prices, were up 0.98% ??, or 88 cents, at $80.14 a barrel on London's ICE Futures exchange, ?revisiting an earlier move past $80 for the second day in a row.

Callum Johnson, Senior Vice President at Royston Carr Asset Management also noted "These downward ?forces, oil prices retain support from geopolitical risks and producers' commitment ?to limit output until the end of the year."?

Oil prices also rose despite a recent jump of the U.S, dollar, which strengthened on ?Thursday to fresh highs as investors shrugged off weak data on retail sales to ?extend the buck's four week-long rally. ?

SOURCE Royston Carr Asset Management

These press releases may also interest you

at 14:05
Petroteq Energy Inc. ("Petroteq" or the "Company") , a fully integrated surface oil sands mining oil company with proprietary technology?, announces the closing of a private placement for aggregate gross proceeds of US$772,785.98 for 5,481,349...

at 12:20
Goliath Resources Ltd. (the "Company or "Goliath") wishes to announce that it has granted stock options for a total of 630,000 common shares of the Company to arms length consultants of the Company. These stock options are exercisable at CDN $0.10...

at 12:00
Excalibur Homes bolsters offering to Atlanta landlords with free eviction protection plan. Excalibur Homes is an Atlanta property management company that helps real estate investors across the globe buy, sell, lease, manage, and exchange...

at 11:00
The Pathfinder Network is exhibiting at the American Parole and Probation Association Training Institute from August 18-21, 2019 at the San Francisco Marriott Marquis in San Francisco, California. The organization's exhibit features Parenting Inside...

at 10:10
Cheapquotesautoinsurance.com has launched a new blog post that presents some tips that can help drivers find the best car insurance companies. For more info and free car insurance quotes online, visit...

at 10:00
Inc. magazine revealed that Signature Bank is No. 4,149 on its annual Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies. The list represents a unique look at the most successful companies within the...

News published on 17 may 2018 at 16:07 and distributed by: