Oil futures on major world trading floors after trades on May 07
08.05.09 11:41
/IRBIS, Dinara Mukasheva, May 08, 09/ - By results of trades on May 07, 2009
oil futures made:
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Change (in %) for
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since since
Name Exchange 07.05.09 a day a month 2009 2008
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Brent Forties
Oseburg* ICE (London) 56.47 +0.6 +10.2 +20.4 -42.3
Light Sweet
Crude Oil* NYMEX (New York) 56.71 +0.7 +15.4 +22.4 -43.1
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*June future price is considered
Oil prices rose slightly against the background of the optimistic expectations
by investors concerning the stress-tests results, which were published after
the market closure. Treasury Secreatary Timothy Geithner said the 19
largest American banks do not expose to insolvency risk.
The macroeconomic data supported the quotations growth. The Ministry of
Labor reported that the number of unemployment benefit requests decreased
by 34 thousand to 601 thousand. Analysts predicted that the indicator will
increase to 635 - 650 thousand.
The stress-tests results were announced after the stock market closure. The
10 largest banks of the USA have to attract $ 74.6 billion in order to increase
its reserves in case of deteriorating of economic situation. Wells Fargo Bank
offered for the sale the shares to the sum of $6 billion to cover $13.7 billion.
Morgan Stanley Bank will sell shares to the sum of $2 billion and issue about
$3 billion of debt in order to increase its reserves by $1.8 billion. The Bank
of America have to appeal $33.9 billion, Citigroup - $ 5.5 billion, while
GMAC - $11.5 billion. The Bank of America is preparing the plan to attract the
required capital, which will be provided to the Government by June.
The attraction will be completed by November this year. JPMorgan Chase,
Goldman Sachs, Bank of New York Mellon, State Street, American Express and
Capital One have met claims of the regulators to capital and do not need of
the reserves increase.
Today, the employment report publication in the USA is expected.
Exchanges' data published in various information systems have been used to
create this message.
[2009-05-08]