Oil futures prices rising
Oil prices rose in early trading in Asia on Tuesday, this is due to a strike in the Norwegian oil producer who threatened to cut production, Norway is one of the largest manufacturers of Western Europe, although the results Brexit to leave the EU was also weighing on the market.
Around 755 workers of Norway in seven oil and gas fields on strike work from Saturday, hitting output from North Sea producers, due to the new salary is not agreed upon before a Friday deadline.
A mediator talks to be held by the state on June 30 and July 1 in an attempt to avoid the disruption that could occur in the future.
Sanat affected Biidang which is a reduction of almost 18 per cent of Norwegian oil production and more than 17 percent from natural gas, quoted from the calculation of the analysts. The combined oil production of about 285,000 barrels per day in the first four months of this year, with natural gas production at 48.5 million cubic meters (mcm) per day.
On the New York Mercantile Exchange, crude oil WTI for August rose 0.76% to $ 46.68 per barrel.
On the Intercontinental Exchange (ICE), Brent crude for September delivery wavered between $ 47.31 and $ 49.48 per barrel, before settling at $ 47.85, down 1.24 or 2.43% on the day. Crude futures have slumped about 8% since last Friday’s surprise decision by voters U.K. to agree to the departure of the Union Eropa.AS West Texas Intermediate (WTI) futures were up 35 cents at $ 49.68 per barrel.
“Crude oil keeps heading lower as investors continued to dump riskier assets. Oil was also weighed down by news that the ceasefire is successful in Nigeria after allowing repair an oil pipeline that has limited the country’s ability to export oil,” as quoted from ANZ.
Oil production in Nigeria has risen to about 1.9 million barrels per day from 1.6 million barrels per day due to improved and more than a week after the attack passed since the main pipeline in the Niger Delta, quoted a spokesman for the oil company Negar on Monday.
Technically
Resistance: 46.76 46.90 47.21 High / Low: 50.49 / 46.71
Support: 46.37 46.00 45.60 Running Price: 46.61
Comment: For intraday trade today suggest Buy at 46.71; stop loss at 47.03; target at 48.05’.
Pound opened steady
The pound remained stable profit slightly in Asian trade on Tuesday as investors await new developments in the field of politics which will issue a decision on a formal notification concerning exit the European Union, in other words the day in which regional data is issued.
GBP / USD was trading at 1.3241, up 0.11%, while the EUR / USD was changing hands at 1.1019, down 0.05%. USD / JPY is quoted at 101.90, down 0.10%, while the AUD / USD was trading at 0.7346, up 0.23%.
The US dollar index, which measures the strength of the dollar compared with six other major currencies, last quoted at 96.55.
Overnight, the dollar is still the highest in three months against major currencies in trading Monday, as the British decision to leave the EU still weighed heavily on market sentiment.
The pound has improved enough after dropping in the days of yesterday because the UK Chancellor George Osborne sought to reassure the market in order not to worry over the consequences of Brexit.
Osborne said the vote to leave the EU is likely to cause further volatility in financial markets, but claimed that the British economy will be stronger to face the consequences.
The former mayor of London, who led supporters Brexit Boris Johnson as predicted immediately declared itself to lead the Conservative Party, to replace Prime Minister David Cameron, who resigned on Friday.
Results of voting Brexit also can cause rupture of the UK, with Scotland which is now very likely to hold a second referendum on independence.
EU Regional Policy Commissioner Corina Cretu said on Monday that a British exit from the EU could lead to a 15% reduction in the bloc’s annual budget after 2020.
Technically
Resistance: 1.3277 1.3336 1.3436 High / Low: 1.3431 / 1.3134
Support: 1.3204 1.3170 1.3134 Running Price: 1.3413
Comment: For intraday trade today suggest Sell at 1.3200; stop loss at 1.3280; target at 1.3150.
The Kospi index held steady
At the opening of stock market trading on Tuesday South Korea, the Kospi index ended flat monitored, edged up 1.61 points, or 0.08 percent, to 1926.85. Weakening Kospi index price cuts triggered action effort.
Price cutting action occurs after the Kospi plummeted 3 percent in trading late last week, so it is used by investors to buy shares.
Nevertheless, this action did not last much, considering investors are still looking at further developments of Brexit, which put pressure on the global market.
Britain has decided to leave the EU, forcing the resignation of Prime Minister David Cameron, became the biggest blow to project greater European unity since World War II.
Global financial markets fell as a result of the referendum on Thursday showed superior sound Brexit 52 percent versus 48 percent of the vote Bremain.
The pound fell more than 10 percent against the dollar to levels last seen in 1985, the biggest one-day fall in history, amid fears the decision could hit investment in the economy is the fifth largest in the world, threaten the role of London as the capital of global finance and usher in months of uncertainty political.
At the opening of trading, large cap stocks ended mixed. Shares of Samsung Electronics Co. slumped -0.64 percent, shares of state utility Korea Electric Power Corp gained 1.74 percent, down -0.36 percent Amorepacific stocks, shares top automaker Hyundai Motor Co. rose 1.43 percent.
As for the Kospi index was observed futures rose 0.85 points, or 0.36% at 237.80, up from its previous close.
Today will be released consumer confidence in June is expected to decrease slightly.
Technically
Resistance: 238.28 238.92 239.92 High / Low: 252.63 / 235.43
Support: Running 237.17 235.53 234.63 Price: 237.85
Comment: For intraday trade today suggest Buy at 239.33; stop loss at 238.85; target at 242.64.
