Brent fell to $48,55 per barrel


Moscow. October 21. Oil prices reference marks in the environment are falling on expectations of growth of stocks of fuel in the U.S., reported Bloomberg.

December futures for Brent crude on London’s ICE Futures exchange to 8:31 Moscow time fell by us $0.16 (0.33 percent) to $48,55 per barrel. At the end of trading on Tuesday, their cost increased by $0.1 (0,21%), amounting to $48,71 per barrel.

Futures prices for WTI crude oil for December in electronic trading on the new York Mercantile exchange (NYMEX) on Wednesday morning fell to $0.28 (0.6 percent) to $46,01 per barrel. Close the previous session, the contract price increased by $0.01 (0.02%) and amounted to $46,29 per barrel.

According to analysts, the oil reserves in the U.S. last week rose to 3.75 million barrels. If the forecast is met, the increase in reserves will be recorded at the end of the fourth week in a row, something that had not happened since April.

Data about stocks of energy carriers in the USA will be published by the Department of energy on Wednesday at 17:30 Moscow time.

“The market moves sideways, but the mood is nervous, says CMC Markets chief analyst RIC Spooner. – The market is waiting for data about oil production in the United States. We recently saw the news about the reduction in the number of active drilling rigs, and if it is transformed into a production decline, the market will be positive”.

According to the American petroleum Institute (API), commercial stocks of oil in the U.S. last week rose by 7.05 million barrels. Including at the terminal in Cushing where NYMEX-traded oil, the reserves increased by 22 thousand barrels.

API receives information from operators of refineries, storage tanks and pipelines on a voluntary basis.