Stock markets have started to recover after the reconciliation statements between the US and China. Yesterday at an economic forum in Asia the President of China Xi Jinping gave a speech where he stated that China will continue to maintain a positive trade balance and that the authorities are ready to lift the restrictions on imports, so that the economy becomes more balanced and products on the market are competitive.
After the last trades on Tuesday, energy prices have risen to levels from 2014. Most of the factors impacting the spike are more political statements. After a UN Security Council meeting major countries have not adopted a common resolution on the chemical attack in Syria. The United States said they may launch a missile blow to Assad's forces in Syria within 72 hours. Despite the fact that at the moment Syria does not have major crude oil supplies to the market, instability there is one of the factors impacting energy prices. Quotes were also supported by the statement by the Saudi authorities that they expect prices to reach $80 per barrel.
Furthermore, Saudi Arabia has cut crude oil for sale on the market, and began storing more supplies in its refineries.
Today we expect data on US crude oil inventories. Against the background of growth in the US and record production, this report can deploy quotations from recent highs.
