Moscow. December 9. The prices for oil imports increase on Wednesday ahead of data on the U.S. oil market, reported Bloomberg.
The January futures for Brent crude on London’s ICE Futures exchange to 8:22 Moscow time has risen in price by $0,61 (1,52%) to $40,87 per barrel. Tuesday’s trading value declined by $0,47 (1,15%), amounting to $40,26 per barrel.
Futures prices for WTI crude oil for January in electronic trading on the new York Mercantile exchange (NYMEX) on Wednesday morning has increased by $0.77 (2,05%) – to $38,28 per barrel. According to the results of the previous session, the contract price fell $0.14 (0,37%) and amounted to $37,51 per barrel.
Both brands have completed previous trading at its lowest levels since February 2009.
Crude oil market participants are waiting for data on stocks of fuel in the U.S., which will be released on Wednesday at 18:30 Moscow time. According to experts, last week commercial oil reserves rose 1.3 million barrels. If these expectations are confirmed, the indicator will show an increase for the eleventh consecutive week.
At the same time, according to American petroleum Institute (API), the oil reserves in the U.S. last week fell by 1.9 million barrels. API receives information from operators of refineries, storage tanks and pipelines on a voluntary basis.
“A lot of supply, – said the head of the oil and gas division of Frost & Sullivan LP Carl Lary. – Quotes are likely to fall in the region of $32-34 per barrel before someone in OPEC will say: “Enough, we do not agree with these prices”.
Last week the Organization of countries-exporters of oil (OPEC) decided to save the actual crude oil production of about 31.5 million barrels a day. The members of the cartel agreed not to set quotas before its next meeting in June 2016.