stock Exchange
the Oslo stock Exchange ended down on Tuesday, weighed down by Statoil, the day before the Opec meeting.
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Frontline stopped down after quarterly report.
Burned 1. position was volatile and was found Tuesday afternoon around one and a half dollars per barrel lower than when the Oslo stock Exchange closed Monday.
“Hope and fear around the possible produksjonskutt in Opec continues to dictate prissvingningene in the oil market”, writes Commerzbank in a note Tuesday.
the Commerzbank draws on the speculative positions in the oil market is very high. Short positions on the ICE is at a record high level, while the long-positions are not far from the all-time-high.
“Tomorrow will decide if the prices shoot up or fall head over heels,” writes the bank.
Statoil ended down 3.2 per cent to 139,7 money, traded for 721 million.
Frontline-the case for quarterly data
Frontline was down 3.2 per cent after the company put forward the interim report on Tuesday morning.
ceo Robert Hvide Macleod in the Frontline don’t think any decision produksjonskutt or produksjonsfrys on tomorrow’s Opec meeting will have a very fundamental impact on the tanker market.
I don’t think we are going to notice much difference on the volume in the market. It is to actually implement the cut, if they agree on it, is very challenging, ” he says to TDN Finans.
While waiting, he somewhat lower rates in the next 18 months than the previous 18 months.
” It was very good in the years and in the last year, but I think the outlook for 2017 is somewhat worse. The earnings are good, but at times it’s going to be worse earnings because there will be more new construction in the market next year, ” he says.
Frontline was sold for 28 million on the Oslo stock Exchange on Tuesday.
BW Offshore up again
BW Offshore increased after the stock fell on Monday after the quarterly report.
A number of analysts are still positive to BW Offshore, despite the fact that they put forward figures that were somewhat weaker than expected Monday.
BW Offshore rose 5.4 per cent to 0,39 million.
the main index on the Oslo stock Exchange was down to 0,77 per cent to 649,80 points, traded for 2.982 million.
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