{"id":41023,"date":"2013-08-15T09:37:57","date_gmt":"2013-08-15T13:37:57","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=41023"},"modified":"2013-08-15T09:37:57","modified_gmt":"2013-08-15T13:37:57","slug":"oil-rises-on-egypt-crises","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/08\/15\/oil-rises-on-egypt-crises\/","title":{"rendered":"Oil Rises On Egypt Crises"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Egypt crises worries investors as the West Texas Intermediate and Brent futures hit its highest level for the fifth day in a row. It reached its highest in over four month as the crises in oil-rich Egypt worsens. While crude prices extended its gains, investors are worried over the supplies that come through Egypt and the fall in the US Oil inventories.<\/p>\n

The WTI Futures rose 0.24% to $107.11 a barrel on the New York NYMEX at the time of writing, while the Brent futures reached the $111 level, up 0.57% to $110.83 at the same time.<\/p>\n

The on-going crisis across the oil-producing countries in the Middle Eastern region continues to spark worries amongst investors as the oil industries in Iraq, Libya and Egypt are at risk.<\/span><\/p>\n

 <\/p>\n

In the past recent weeks, the US Oil supplies have reduced to almost six times, as the inventories decreased to 360.5 million barrels in the week that ended August 9th<\/sup>, according to reports from the Energy Information Administration (EIA).<\/p>\n

Gasoline stockpiles were also seen lower than forecasted in the report, falling by 1.2 million barrels. Distillate stockpiles rose by 2 million barrels, higher than the predicted 1 million rise.<\/p>\n

\u00a0<\/strong><\/p>\n

Egypt Crises\u00a0<\/b><\/h2>\n

Investors are worried about the important Suez Canal oil chokepoint during the crackdown events in Egypt. Egypt manages the Suez Canal and the Suez- Mediterranean Pipeline which combines approximately 4.51 million barrels a day. Crude and refined products were shipped across the Red sea and the Mediterranean last year, according to EIA.<\/p>\n

Almost 35% of the world\u2019s oil output was accounted by the Middle East in the first quarter, according to data from the International Energy Agency.<\/p>\n

More violence have been sparking in Egypt, as the bloody crackdown took place on Wednesday ,when protestors assembled at two different sitting organized against the military-supported Adly Monsour. According to reports over 500 people died.<\/p>\n

 <\/p>\n

Visit www.hymarkets.com<\/a> \u00a0today and find out more on how you can how you can trade Energy products! \u00a0<\/i><\/b><\/p>\n

The post Oil Rises On Egypt Crises<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Egypt crises worries investors as the West Texas Intermediate and Brent futures hit its highest level for the fifth day in a row. It reached its highest in over four month as the crises in oil-rich Egypt worsens. While crude prices extended its gains, investors are worried over the supplies … <\/p>\n

Continue reading “Oil Rises On Egypt Crises”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-41023","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/41023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=41023"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/41023\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=41023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=41023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=41023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}