Moscow. October 15. Oil quotes are falling on Thursday on data on substantially more than expected, growth of stocks of fuel in the U.S. last week, Bloomberg reported.
November futures for Brent crude on London’s ICE Futures exchange as of 18:15 Moscow time has fallen in price on $0,75 (1,53%) – to $48,40 per barrel. Quotes of WTI oil futures for November on trading on the new York Mercantile exchange (NYMEX) to a specified time fell by $1,07 (2,29%) – to $45,57 per barrel.
Oil prices lower for the fourth session in a row for the first time since July.
According to the U.S. Department of energy, commercial oil reserves in the U.S. last week increased by 7,56 million barrels, a record pace since March. The volume of reserves is now 468,6 million barrels, which is close to the record for this time of the year for the last 80 years.
Analysts polled by Bloomberg, on average, had expected oil stocks last week increased by 2.58 million barrels.
However, the reserves of gasoline have decreased on 2,62 million barrels, distillates – by 1.52 million barrels. The U.S. refinery utilization fell by 1.5 percentage points to 86%.