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Analysts explain what affected the black gold market
After the rise in oil prices, quotes of reference brands show a moderate decrease - thus investors assess the signals about the growth of fuel stocks in the United States. So, the July futures for Brent on the London Stock Exchange ICE Futures fell to $ 71 per barrel. At the auction on the eve of their price jumped to 71.24 dollars per barrel. The cost of WTI futures for June at the electronic session on the New York Mercantile Exchange (NYMEX) dropped to $ 61.36 per barrel. At the previous auction, WTI rose to $ 61.78 per barrel. According to media reports, the American Petroleum Institute (API) released a report according to which oil reserves in the United States jumped 8.63 million barrels last week. Official data from the Department of Energy will be published on the evening of May 15, and experts polled by Bloomberg expect them to point out a decline of oil reserves by 1.2 million barrels.
Prosecutors and law enforcement officers also searched private apartments
German law enforcement officers searched the premises of 11 German banks in a tax evasion case, which was instituted after the publication of the “Panamanian documents.” According to Der Spiegel, the operation took place throughout Germany. Frankfurt am Main prosecutor’s office involved in the searches Federal Criminal Investigation and Other Authorities: They searched eight private apartments, offices of 11 banks, law offices and real estate companies, in Aachen, Bad Tölz, Bonn e, Hamburg, Düsseldorf, Cologne, Frankfurt am Main and on the island of Sylt.
According to the investigation, eight people turned out to be under the gun of the law enforcement agencies, who, with the help of one of the former subsidiaries of Deutsche Bank, tried to avoid paying German taxes. Financial Institute has not yet commented on the situation. Recall that in April 2016 the German Sueddeutsche Zeitung published the documents of the Panamanian law firm Mossack Fonseca, which pointed to the widespread use of offshore schemes in the world for tax evasion.
The law firm called the publication illegal and based on stolen information. At the same time during the searches in Mossack Fonseca bags with destroyed documents were found. Lawyers said this could be interpreted as a cover for illegal activities. In February 2018, the founders of the law firm Ramon Fonsek and Jürgen Mossack were arrested in a corruption case. The Panamanian prosecutor’s office, in particular, accused them of creating offshore accounts through which the Brazilian construction company Odebrecht transferred funds as bribes to high-ranking officials from different countries. However, the investigation on this issue stalled.