Oil is cheaper on expectations of growth of stocks of raw materials in the USA

Oil is cheaper on expectations of growth of stocks of raw materials in the USA


Stockpiles in the U.S. storage last week could amount to 3 million barrels, to 479,6 million barrels, which continues to have a negative impact on the market.

MOSCOW, 27 Jan. World oil prices show a negative trend on Tuesday amid expectations of a week’s growth of reserves of “black gold” in the United States that can speak about the preservation of oversupply of raw materials on the world market, according to AFP.

As 07.26 MSK price of the December futures for North sea petroleum mix of mark Brent has decreased on 0,34% — to 47,27 USD per barrel. The price of futures for oil of mark WTI has decreased on 1,1% — to 43.5 dollars per barrel.

This week the U.S. Department of energy will publish regular data on the change of oil reserves in the country. According to analysts, polled by Reuters, the growth of stocks over the past week could be 3 million barrels to their 479,6 million barrels.

“Data on reserves and production in the United States continue to bring to market disappointment,” said Reuters market analyst by optionsxpress in Sydney Ben Le Brun (Ben Le Brun). He added that investors also await with interest the results of the next fed meeting, the results of which will be announced the future course of monetary policy in the country.

The fed will announce its decision on the base rate on Wednesday. In General, investors expect that the regulator will keep the base rate at its lowest level and will postpone the tightening of monetary policy in 2016.