CapitalStars Financial Research Pvt Ltd

CapitalStars

CapitalStars Financial Research Private Limited is an advisory company incepted with a vision of providing fair and accurate trading and investment calls in share and commodity market.we specialize in thorough fundamental and technical research analysis in equity and commodity market to provide best equity and commodity tips to traders and investors.we provide intraday as well as delivery stock tips in NSE and BSEand commodity tips in MCX and NCDEX. Read More

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In this service we provide 3-4 intraday calls in MCX with a high level of accuracy. The calls are given in Precious Metals, Base Metals and Energies. You can also avail Free Tips for two days to test our accuracy and if satisfied you can join the services with Capital Stars. Read More

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CapitalStars provides Free Trial in Intraday as well as in Positional Services of Equity, Derivatives, and Commodities and Forex Markets. We provide recommendations in NSE, BSE, MCX, NCDEX, and MCX-SX etc. We render you enough entry and exit time in our calls so clients can easily maximize their profits. Read More

Saturday 31 December 2016

Oil down, but ends year with biggest gain since 2009 : 31 Dec 2016



Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years.

A two-rig rise in the oil rig count in the United States, the ninth weekly increase in a row, as reported by oilfield services provider Baker Hughes Inc (N:BHI), added to bearish sentiments.

But the total count of 525 for the week, the last for the year, was still below last year's level by 11 rigs.

U.S. benchmark West Texas Intermediate (WTI) (CLc1) crude futures were down 5 cents, or 0.1 percent, at $53.72 a barrel, while Brent (LCOc1) fell 3 cents, or 0.1 percent, to $56.82.

"Some profit-taking ... very light trading - a lot of people have already done what they needed to do for the year." said Elaine Levin, president of Powerhouse, an energy-specialized commodities broker in Washington.

Brent rose 52 percent this year and WTI climbed around 45 percent, the largest annual gains since 2009, when the benchmarks rose 78 percent and 71 percent respectively.

Oil prices have slumped since the summer of 2014 from above $100 a barrel. The price rout, due to an oversupply thanks in part to the U.S. shale oil revolution, was accentuated later that year when Saudi Arabia rejected any deal by the Organization of the Petroleum Exporting Countries (OPEC) to cut output and instead fought for market share.

But a historic OPEC agreement struck over three months from September that will reduce production from Jan. 1, marked a return to the 13-country group's old objective of defending prices.

Oman told some customers it will reduce term allocations by 5 percent in March, but did not say whether the supply reduction would continue after that.

The rise in prices can be seen as "proof of international credibility," for OPEC and partners, said Igor Yusufov, founder of the Fund Energy investment firm and a former Russian energy minister.

He said the rise, a "ponderable New Yew present" for producers, is propelled by expectations of expectations of oil demand growth.
Analysts at JBC said major forecasters diverge on their specific predictions.

"We see a big variation in demand growth assessments for 2017, ranging from +1.22 million bpd (barrels per day) ... to +1.57 million bpd," they said in a note to clients.


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