The cost of the November futures for North sea Brent blend oil was increased by 0.1% to 49,41 dollars per barrel. Price of November futures for oil of mark WTI has grown to 46,32 USD per barrel.
MOSCOW, 6 Oct. The world prices for oil remain weak on Tuesday positive dynamics amid expectations of market participants regarding statistics on commercial oil reserves in the U.S., according to AFP.
As of 8.25 MSK price of November futures for North sea petroleum mix of mark Brent has risen on 0,1% — to 49,41 dollars per barrel. Price of November futures for oil of mark WTI has grown on 0,13% — to 46,32 USD per barrel.
The U.S. Department of energy on Thursday will be published statistics on commercial oil reserves in the United States (excluding strategic reserves) for the week ended 2 October. According to analysts, the index increased by 1.75 million barrels to 459,65 million barrels. A week earlier inventories jumped 4 million barrels.
Oil prices are supporting the news that Russia is ready to discuss the situation of glut in the global market, according to the Agence France-Presse. 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.
According to Phillip Futures investment analyst Daniel ang (Daniel Ang), one of the topics for any negotiations in the industry will be the return of Iranian oil to the market. “Oil from Iran will lead to an excess of “black gold” of one million barrels a day the country will reach maximum production capacity, may become the main topic of the meeting”, — said the analyst.
“The fall in oil prices to the current level and save for a long time, of course, has a negative impact on major oil producer, including Russia”, — concluded the expert.