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Oil has moved to lower amid record the appreciated dollar

15/12/2016 16:02




Oil prices are down during evening trading on Thursday amid strong dollar and against the balance of expectations on the world market in 2017.

By 17.43 GMT, futures for Brent oil fell by 0.91 percent to $ 53.40 per barrel.

Futures for WTI US crude traded at this time about the level of $ 50.22, 1.61 percent lower than the previous close.

The dollar reached its peak 14 years to a basket of currencies on Thursday after the US Federal Reserve has increased the number of expected rate increases in 2017, reviving lasted for a month rally and hitting the currencies of emerging markets.

According to analysts, the market believes in the effectiveness of the global oil pact.

If the member countries of OPEC and the miners out of the club will stick to their promises to reduce the data volume of production, the oil market is waiting for a significant shortage of raw materials in the first quarter of 2017, ANZ analysts believe.

"It could push oil prices above $ 60 per barrel at the beginning of next year," - they added.

OPEC and non-state neftekartel weekend concluded a first agreement in 2001 to jointly cut production after almost a year of negotiations.

The agreement, designed to restore the balance in the global market and to support the prices of raw materials, comes into force on 1 January.