Brent oil rose to $44,7 per barrel


Moscow. November 17. The price of WTI is weakly changed Tuesday morning after jumping 2.5 percent yesterday, while Brent is slightly more expensive, Bloomberg reported.

The cost of the January futures for Brent crude on London’s ICE Futures exchange to 8:29 Moscow time increased by $0,13 (0,29%) to $44,69 per barrel. By the close of the market on Monday, the futures price increased by $0.09 (0.2 percent) to $44,56 per barrel.

Futures price for WTI crude oil for December in electronic trading on the new York Mercantile exchange (NYMEX) rose to this time to $0,03 (0,07%) to $41,77 per barrel. According to the results of previous auctions of the contract has jumped in price by $1 (2,45%) – to $41,74 per barrel.

Such a significant growth of quotations of WTI on Monday due to fears of interruptions of fuel supplies from the middle East in connection with the aggravation of geopolitical tensions.

In addition, market participants expect data on changes in stocks of energy carriers in the USA last week, which will be published on Wednesday at 18:30 Moscow time. According to analysts surveyed by Bloomberg, inventories of crude oil grew last week by 1.75 million barrels.

“The price growth can not last long, as the market are too many negative factors, said an analyst at Fat Prophets David Lennox. – Reserves remain high, and significant reductions in sentences is not observed. The price surge before it became just an excessive reaction to what is happening in Syria.”

Meanwhile, the Secretariat of the Organization of countries-exporters of oil (OPEC) reported that the average price of oil delivered by the cartel (the so-called “OPEC basket”), fell to less than $40 a barrel for the first time since 2009. As of 13 November, the average price of oil sold 12 the members of the cartel, was $39,21 per barrel.