The price of oil of the Brent mark will be adjusted up after the hardest fall of the day before, and the price of WTI continues to decline moderately amid reports of increased U.S. inventories are significantly above forecasts.
MOSCOW, 13 Nov. Oil prices on Friday show mixed trends: the price of Brent adjusted up after a very bad fall yesterday, but WTI continues to decline moderately, reflecting poor data on the US reserves, according to AFP.
As at 07.40 GMT the price of January futures for North sea Brent blend rose by 0.18% to 45,24 USD per barrel. The price of December futures for light WTI oil fell by 0.43% to 41,57 dollars per barrel.
In the course of trading Thursday the price of December futures for North sea petroleum mix of mark Brent fell below the psychological mark of $ 45 per barrel for the first time since August 27. At some point she even fell below 44 dollars per barrel.
On Thursday, the energy information administration of the U.S. Department of energy reported that commercial oil reserves in the country over the past week rose by 4.2 million barrels — up to 487 million barrels. This was significantly higher than analysts ‘ forecasts, who had expected the index will rise to 1,016 million barrels — up to 483,816 million barrels.
“Oil prices fell to lows more than two months after a rise in stocks of raw materials in the U.S. for the past seven weeks”, — quotes Reuters the words of the analysts at ANZ Bank.