World oil prices are rising on reserves data in the U.S.

World oil prices are rising on reserves data in the U.S.


The cost of December futures for North sea petroleum mix of mark Brent grew up 49,16 dollars per barrel. The price of December futures for oil of mark WTI has risen to 46,24 dollars per barrel.

MOSCOW, 30 Oct. The world prices for oil show positive dynamics, reflecting reports of stocks of “black gold” in the United States, according to AFP.

As at 13.47 GMT the cost of December futures for North sea petroleum mix of mark Brent has grown on 0,73% — to 49,16 dollars per barrel. The price of December futures for oil of mark WTI has risen on 0,39% — to 46,24 dollars per barrel.

“The price of oil at the end of October is in the red zone for seven of the ten months amid global oversupply, which does not show signs of weakening. U.S. stocks continued to rise. Data the U.S. Department of energy indicate that the stocks remain at 100 million barrels above the five-year average seasonal values”, — quotes Agency France Press strategist IG Markets AU Bernard (Bernard Aw).

Last Wednesday, the energy information administration, the U.S. Department of energy has published data on weekly U.S. inventories. According to the Agency, crude inventories in the country for the week ended October 23, increased by 3.4 million barrels. At the same time, gasoline inventories in the U.S. fell by 1.1 million barrels, while analysts expected decline to to 0.817 million barrels.

In his opinion, without reducing production is unlikely to occur a significant increase in oil prices.