Health services at our gas stations continued for the past 7 days. In contrast, gasoline prices rose again – a liter reached 40.37 K on average, which is 25 hals more than a week ago. The average price of diesel also increased slightly, rising by 6 hals to 39.25 K per litre. The high price of crude oil and other factors are therefore reflected in the prices of fuel. Since April, he has been officially on the motorist list and has been unstoppable. This significantly increases the demand, especially for gasoline, which gradually affects its price. From the first gasoline, Russia banned the export of gasoline for 6 months due to domestic prices. Although this gasoline traveled primarily to African countries, the market was full of bugs. Even thanks to this, the average price of gasoline was 40.50 K per liter in the fifth week. Growth above 41 K by the end of May is not ruled out either. On the other hand, diesel could stabilize, its price on the stock exchange has fallen since the beginning of April. There are several factors behind this – during the winter, the demand for heating oil increases, but the winter is over and the diesel market should stabilize. Insights could even lead to a slight correction in diesel prices, the average could again fall below 39 K by the end of May, and the price gap between diesel and gasoline could open up again. The question now hangs over the Czech crown due to the NB meeting, which will be held in five weeks. However, the market has given it a dream of annual rates of 0.5%, so the reaction of the koruna does not have to be big.
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The question mark still hangs over the oil market. Towards the end of last week, Israel undertook a retaliatory flow on RN, the price of brent oil immediately reacted to this by rising from 87 dollars to 91. The flow was the first place in RN, which is known for its nuclear program. Subsequently, however, it turned out that the flows caused minimal codes and the direction slightly trivialized them. Neither country has the motivation to unleash a wolf, let alone the USA. The current situation can be described as the wolf was angry and the goat remained whole. The value of Brent oil gradually disappeared, and Brent fell to 88 dollars a barrel. However, the current level of oil prices is still above average, and some kind of significant fuel discount will not be achieved just like that. Perhaps only an official visit to the Middle East or economic problems in the USA could act against the price of oil. Regarding the summer dream of annuity rates in the US, there is no doubt when, if at all, now. High rates for a long time may weigh on American demand for oil. On the supply side, however, we cannot expect gas production growth – the current oil prices are very comfortable for the OPEC cartel, and an early increase in production volumes is therefore unlikely. You can’t even expect production from Venezuela, which has responded to US sanctions. Venezuela’s production will probably reach a ceiling of around 1 million barrels of oil per day, and export growth cannot be expected. Even due to these factors, long-term oil prices will probably be at above-average values. We probably won’t get discount gasoline soon.
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Petr Lajsek
I have been active in the financial markets since 2014. Like many investors, I started with forex trading based on technical analysis, gradually broadening my horizons to trading commodities, cryptocurrency and long-term investments in shares and ETF funds. In my career so far, I have worked as a chief analyst and macroeconomist, securities trader and investment analyst in a private equity fund. I am talking to you about my experience in fundamental and technical analysis and my ability to analyze the effects of current macroeconomic trends on the world’s financial markets.
Purple Trading
Purple Trading is a company with Czech roots that trades in valuable peppers and is based on a certain STP forex model with the possibility of passive investment in ETF portfolios. Outside the esk market, psob Purple Trading is in Italy or Poland.
The company’s vision is to build a strong community of profitable and long-term traders and investors. Therefore, every client has access to the Purple Academy, where in the Purple Toolbox you will find a whole series of tools, analyzes and seeds, on which, for example, the legend of the Czech trading scene, Jaroslav Tup, collaborates
Stuff at www.purple-trading.com/cs/.
