WTI oil rises in price by more than 5% on reserves data in the U.S.

WTI oil rises in price by more than 5% on reserves data in the U.S.


According to the auction, the price of December futures for North sea Brent blend grew to EUR 48.93 per barrel on information on growth of commercial stocks in the United States.

MOSCOW, 28 Oct. The prices for oil of mark WTI in the medium increased the growth data on growth of commercial stocks in the United States, rising in price by more than 5%, according to AFP.

As at 17.48 GMT the cost of December futures for North sea Brent blend grew to 4.28% to 48,82 $ per barrel, WTI light crude oil — on 5,32%, to 45,50 dollars per barrel.

According to the energy information administration of the U.S. Department of energy, commercial oil reserves in the country (excluding strategic reserves) for the week ended October 23, increased by 3.4 million barrels, or 0.7%, to 480 million barrels. Analysts had expected the index will rise to 3,417 million barrels — up to 480,017 million barrels.

While oil production in the U.S. last week, according to the Ministry, declined by 0.17% or by 16 thousand barrels per day — up to 9,112 million barrels. The oil reserves in the country’s largest terminal Cushing (Cushing) decreased by 0.8 million barrels — to 53.3 million.

Gasoline inventories in the U.S. fell by 1.1 million barrels, or 0.5%, and was 218.6 million barrels. Analysts had expected a decline by to 0.817 million. Distillate inventories fell by 3 million barrels, or 2 percent, to 142.1 million barrels. Analysts predicted that the indicator will decrease by 1,683 million barrels.