Oil Rally in New York – OBI Online

In early trading Tuesday rising Dow Jones 0.9 percent to 16,022.39, while the broader S & amp; P 500 index put on 0.4 percent to 1,884.33.

Nasdaq depreciates 0.3 percent to 4,505.77.

Follow developments here.

Brent March oil is Tuesday afternoon Norwegian time $ 31.05 a barrel, up 1.8 percent in today’s trading.

WTI oil was up 1.2 percent to $ 30.70 a barrel.

Iraq will cut
After the bad news was in line Monday, said Iraqi Oil Minister Abdul Karim Luaibi according to Bloomberg on Tuesday that the country might be willing to cut oil production – if others join in it.

The Minister indicates further that Saudi Arabia will now be more flexible with a view to achieving a reduction in production, and that he sees signs of a little more flexibility for the sake of an agreement between OPEC and non-OPEC.

– Without a production agreement, point the fundamental toward lower prices, says David Hufton of oil brokers PVM said.

It is also worth noting that China imported 33.2 million tons of crude oil in December, 9.3 percent more than in the same period last year. Throughout 2015 imports of the world’s second largest economy 335.5 million tonnes.

There is an increase from 2014 of 8.8 percent, according to figures from the Chinese authorities.

– Product Store is on sesonglaveste and need to be rebuilt. This should keep crude oil imports high in Q1 2016, says analyst Laban Yu at Jefferies Reuters.

Ladders on figures
A number of heavyweights has put forward figures before the stock exchange opens and several of them distinguish themselves positively.

Procter & amp; Gamble springing up 3.3 percent to $ 79.40 after having submitted a quarterly expectations.

The company made a profit of 3.21 billion dollars, or $ 1.12 per share, in its accounting Q2. It was up 2.37 billion dollars, or 82 cents per share, in the same period last year.

Excluding infrequent served Procter & amp; Gamble $ 1.04 per share.

Reuters consensus pointed to an adjusted earnings of 98 cents per share of earnings on 16.94 billion dollars.

More about numbers here.

Energetic rally
In the energy sector, Freeport McMoran submitted figures, and rewarded them with an increase of 4.6 percent to $ 4.12.

Johnson & amp; Johnson and Coach let both forward better than expected earnings, but disappointed on the top line.

The market’s reaction is to send two shares up respectively. 2.1 and 8.0 percent.

DuPont disappointed also on the top line, and the stock opened flat in Tuesday’s trading.

After Hours adds Apple until their numbers, and the stock drops 2.5 percent in the opening.