According to the auction, the cost of the January futures for North sea Brent blend has grown to 44.7 per barrel. The price of December futures for light WTI oil decreased to 41,55 USD per barrel.
MOSCOW, Nov 17. World oil prices continue to trade mixed amid geopolitical concerns and the continued abundant supply in the oil market, which keeps prices down, according to AFP.
As at 13.31 GMT the price of January futures for North sea Brent blend has grown on 0,33% — to 44.7 per barrel. The price of December futures for light WTI oil declined by 0.44% to 41,55 USD per barrel.
According to the Ministry of defense of France, French air force dealt a massive blow on positions of grouping “Islamic state” (IG) in the capital of the ar Raqqah city in Syria. Investors because of the bombardment of fear of disruptions of oil. Friday night in Paris there was a series of terrorist attacks, according to the latest data, has killed 129 people, about 300 were wounded.
“The market is still oversaturated and yesterday there was a correction of positions after these terrible events,” said PVM oil analyst Tamas Varga (Varga Tamas) to the Agency. In the course of trading Tuesday, the price of WTI oil rose more than 3% on geopolitical concerns after the terrorist attacks in Paris.
According to analysts, the opinion of which leads the Agency Reuters, despite the terrorist attacks in Paris and the fighting French air force against the “Islamic state” in Syria, oil prices will remain low until the end of 2015 and in 2016 due to oversupply in the world market. Oil production in 2015 will outpace demand, according to experts, to 700 thousand barrels per day.
In addition, investors await data on the dynamics of oil reserves in the U.S. for the week ended November 13, the U.S. Department of energy will publish on Wednesday. According to analysts, the index rose by 1.6 million barrels — up to 488,6 million barrels. A week earlier, the oil reserves in the U.S. rose by 4.2 million barrels, or 0.9%, to 487 million barrels.