Oil futures on major world trading floors after trades on May 11
12.05.09 10:59
/IRBIS, Dinara Mukasheva, May 12, 09/ - By results of trades on May 11, 2009
oil futures made:
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Change (in %) for
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since since
Name Exchange 11.05.09 a day a month 2009 2008
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Brent Forties
Oseburg* ICE (London) 57.48 -1.1 +6.3 +22.5 -41.3
Light Sweet
Crude Oil* NYMEX (New York) 58.50 -0.2 +12.0 +26.2 -41.3
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*June future price is considered
Oil prices have decreased under the influence of the fall in U.S. stock markets.
Investors wait further developments of the banks, which announced the stock
floatation to attract additional capital. There were the results of stress tests
of banks on May 7, 2009. The 10 largest banks of the USA have to attract $ 74.6
billion to increase its reserves in case of economic downturn. Wells Fargo Bank
offered for sale shares amounting to $ 6 billion to cover $ 13.7 billion. Bank
Morgan Stanley will sell shares at the price of $ 2 billion, and issuing about
$ 3 billion of debt to increase its reserves by $ 1.8 billion. Bank of America
have to attract $ 33.9 billion, Citigroup - $ 5,5 billion, while GMAC - $ 11,5
billion which were expected by analysts. 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.
Exchanges' data published in various information systems have been used to
create this message.
[2009-05-12]