Oil is trading mixed ahead of data on U.S. inventories

Oil is trading mixed ahead of data on U.S. inventories


The cost of December futures for North sea petroleum mix of mark Brent fell by 0.02% to 48,77 per barrel. The price of December futures for oil of mark WTI has grown on 0,17% – to 46,22 dollars per barrel.

MOSCOW, 3 Nov. World oil prices on Tuesday show mixed dynamics on the background of expectations of investors data on stocks in the U.S., according to AFP.

As at 07.04 GMT the cost of December futures for North sea petroleum mix of mark Brent fell by 0.02% to 48,77 per barrel. The price of December futures for oil of mark WTI has grown on 0,17% — to 46,22 dollars per barrel.

The U.S. Department of energy on Wednesday will be published statistics on commercial oil stocks (ex strategic reserve) for the week ended October 30. According to analysts, the indicator will show a slight growth, writes Reuters. The previous week, inventories rose by 3.4 million barrels — up to 480 million barrels. Analysts had expected the index will rise to 3,417 million barrels — up to 480,017 million barrels.

In anticipation of release of statistics the energy information administration of the U.S. Department of energy American petroleum Institute (API) in the night of Wednesday Moscow time will publish its estimate of oil reserves in the country over the past week.

“Expectations of possible growth stocks in the United States hindered the bulls”, — quotes Agency France Press strategist IG Markets AU Bernard (Bernard Aw).