Oil prices traded mixed on expectations statistics

Oil prices traded mixed on expectations statistics


The cost of the November futures for mix Brent has grown on 0,21% – to 49,35 USD per barrel. Price of November futures for oil of mark WTI have decreased on 0,32% – to 46.1 per barrel.

MOSCOW, 6 Oct. World oil prices traded erratically in anticipation of data on stocks in the U.S., as well as on the message to Russia about its readiness to meet with members of OPEC to discuss the situation on the world market, according to AFP.

As of 13.04 MSK price of November futures for North sea petroleum mix of mark Brent has risen on 0,21% — to 49,35 USD per barrel. Price of November futures for oil of mark WTI have decreased on 0,32% — to 46.1 per barrel.

The U.S. Department of energy on Wednesday will be published statistics on commercial oil stocks in the USA (excluding strategic reserves) for the week ended 2 October. According to analysts, this figure has increased by 1.75 million barrels to 459,65 million barrels. A week earlier inventories jumped 4 million barrels.

Some analysts predict growth of oil reserves in the US, which will put pressure on oil prices.

“We expect pressure on Brent crude will persist until the first quarter of next year. The price in the first quarter of 2016 would be about 44 dollars per barrel, and by the fourth quarter will rise to $ 54 per barrel. We expect the price for WTI crude oil in 2015 will be lower than Brent, 4-5 dollars,” said Natixis analyst Abhishek SA, Deshpande (Abhishek Deshpande) to Reuters.

Oil prices are supporting the news that Russia is ready to discuss the situation of the glut in the world market, the Agency said. Energy Minister Alexander Novak Tuesday said that the country is ready to participate in consultations with the countries-members of OPEC on the situation on the world oil market. The Minister also expressed readiness to discuss the situation with countries outside the cartel.