World oil prices continue to decline

World oil prices continue to decline


On the oil price is influenced by investors ‘ concerns about growth of oil reserves in the United States. The cost of December futures for North sea petroleum mix of mark Brent has fallen to 47,27 USD per barrel.

MOSCOW, 27 Jan. World oil prices continue to decline on expectations of increased U.S. inventories, as well as on the background of forecasts of excess supply next year, according to AFP.

As of 13.35 MSK price of the December futures for North sea petroleum mix of mark Brent has decreased on 0,57% — to 47,27 USD per barrel. The price of December futures for WTI crude oil fell 1.28% to 43,41 USD per barrel.

Investors expect the publication of statistics of the Ministry of energy U.S. commercial oil reserves in the country. Analysts expect the index increased by 3 million barrels to their 479,6 million barrels. Commercial oil stocks in the USA (excluding strategic reserves) for the week ending October 16, up by 8 million barrels, or 1.7%, to 476,6 million barrels.

“Oil prices remain near two-month lows, as the excess is in the first place. It is expected that the oil reserves in the United States continues to grow, which will contribute to the preservation of saturation. The Ministry of energy on Wednesday will shed light on reserves data”, — quotes Agency France Press strategist IG Markets AU Bernard (Bernard Aw).