Oil futures rose significantly on Monday, will support received from the investor appetite for riskier assets after the survey results pointed to a lower probability of the UK from the European Union.
The campaign on whether Britain should leave the European Union or remain in the block resumed on Sunday after a three-day break, the cause of which was the murder of a parliamentarian from the Labour Party Joe Cox. The results of the survey companies Survation showed that EU membership voted 45% of voters and 42% of the vote for the exit. The median forecast on the results of six recent public opinion polls have shown a 50 percent probability of a positive or negative outcome of the referendum, while the bookmakers betting in the UK out of the EU have fallen sharply compared with last week. Now bookmakers estimate the chances Brekzita in 31% versus 44% in the middle of last week. According to projections, Societe Generale, in the short term, oil prices may fall by 5% in the event of the UK from the EU structure. At the same time, experts believe that in the case of the US dollar strengthened Brekzita.
Oil continues to recover, despite Friday’s data from the oilfield services company Baker Hughes, who reported the third consecutive increase in the number of oil rigs, which implies an increase in future production. The Baker Hughes reported that the total number of drilling rigs increased last week by 10 units in the United States to 424. The number of oil rigs has increased over the reporting period 9 units to 337 units, gas – one of up to 86 pieces, the number of unskilled installations remained unchanged – 1 unit. Experts note that the renewed drilling activity in the US has increased speculation that domestic production could increase in the coming weeks, raising fears of excess global reserves.
WTI for delivery in August rose to $49.53 a barrel. Brent for August rose to $50.87 a barrel.
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