For the unrest in Iran, oil prices and oil are rising

2018-01-04 12:07:35
Machine translation
For the unrest in Iran, oil prices and oil are rising

the Riots, which during the week continues in Iran, causing concern about possible disruptions in oil supply through which it has risen to the maximum of two and a half years.

 

the February WTI crude oil futures in new York rose by 0.75% to 62,09 $/barrel. Brent crude on the Intercontinental Exchange rose 0.4% to 68,11 $/barrel.

 

 

Over possible supply disruptions is rapidly recovering operation of the oil pipelines in Libya and the North sea, where an accident two weeks ago raised oil prices to such a level.

Rise in price of oil led to higher prices for vegetable oils.

 

Palm oil in Malaysia increased by 2.9% to 2606 ringgit or 648 $/t

 

Soybean oil in Chicago increased by 2% to 748 $/t

 

Soybean futures slightly higher in price, despite the reduction in U.S. exports compared to the previous week by 12% to 1,139 million tons.

 

As 01.01.18 soybean exports from the United States in the current season amounted to 67% of the USDA forecast vs. 82% on average in the past year. Traders expect the USDA to lower forecast of soybean exports in a report on January 12.

 

Brazil increases sales of soybeans in December, exports totaled 2.36 million tons, slightly higher than in November and almost 4 times greater than the exports of December 2016.

 

Speculators are buying soy because they believe that the crops of soybeans in southern Brazil and Argentina are suffering from the dry weather. Meteorologists promise warm, dry weather with little rainfall.