Oil is cheaper on the data on weekly U.S. inventories

Oil is cheaper on the data on weekly U.S. inventories


According to the auction, the price of December futures for North sea petroleum mix of mark Brent has fallen to 48,88 per barrel on statistical data on weekly U.S. inventories.

MOSCOW, 15 Oct. World oil prices decline on Thursday on statistical data on weekly U.S. inventories, according to AFP.

As at 18.39 GMT the cost of December futures for North sea petroleum mix of mark Brent has decreased on 1,62% — to 48,88 per barrel. Price of November futures for oil of mark WTI fell on 2,51% — to 45,47 dollars per barrel, after the publication of statistics it was down by 2.99% to 45,25 dollars per barrel.

“The high level of surplus in the oil market is blocking any rise in oil prices”, — the newspaper quoted The Wall Street Journal analysts Commerzbank.

According to the U.S. Department of energy, commercial oil reserves in the country (excluding strategic reserves) for the week ending October 9 rose by 7.6 million barrels to 468,6 million barrels. Analysts had expected the index to increase by only 2,848 million barrels, to 463,848 million barrels.

Oil production in the U.S. last week, according to the Ministry, fell by 76 thousand barrels per day — up to 9,096 million barrels. The oil reserves in the country’s largest terminal Cushing (Cushing) has increased by 1.1 million barrels to 54.2 million.

Gasoline stocks in the USA decreased by 2.6 million barrels, and reached 221,3 million barrels. Analysts had expected a decrease of 1,695 million. Distillate stocks also fell by 1.5 million barrels — to 147.6 million barrels. Analysts had forecast a decline of 0.6 million barrels.