Brent fell to nearly $49 per barrel


Moscow. October 19. The oil imports fall Monday, said on Monday Bloomberg.

The price of December futures for Brent crude on London exchange ICE Futures at 16:38 MSK fell to $1,38 (2,73%) to $49,08 per barrel.

Quotations of futures contracts for WTI crude oil for February in electronic trading on the new York Mercantile exchange dropped by this time to $1,19 (2,52%) – to $46,07 per barrel.

At the auction were influenced by the data of the international rating Agency Moody’s, which downgraded the assessment of the cost of oil for the next two years, expecting that prices will rise at a slower pace.

Now analysts expect Brent crude next year will average $53 per barrel against the projected amount above $53 per barrel, mark WTI at $48 per barrel compared to $52 per barrel.

In 2017 both grades of oil will rise by $7 per barrel, predicts Moody’s. Previously, it was expected a rise to $12 per barrel.

In addition, the market was affected by statistics on volume of industrial production in China in September, published by the National statistical office of China. It increased by 5.7% in annual terms , while last year the analogous index was 6.1%, while analysts had expected a higher rate of growth.

China consumes about 12% of all world oil, after only the USA.