Moscow. December 30. Oil prices fall on Wednesday before the publication of data on changes in stocks of fuel in the USA by the end of last week and closed with reduction for the second year in a row, reports Bloomberg.
The cost of the February futures for Brent crude on London’s ICE Futures exchange to 8:34 Moscow time has decreased by $0.46 (1,22%) – to $37,35 per barrel. By the close of market on Tuesday, the futures price rose by us $1.17 (3,19%) to $37,79 per barrel.
Futures price for WTI crude oil for February in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time $0.72 (1,90%) to $37,15 per barrel. According to the results of previous trading day, the contract rose $1,06 (2,88%), to $37,81 per barrel.
According to the forecasts of experts surveyed by Bloomberg, inventories of crude oil in the U.S. for the week ending December 25 fell by 2.5 million barrels. The Ministry of energy will publish the data on Wednesday at 18:30 Moscow time.
Meanwhile, according to the American petroleum Institute (API), which collects data on a voluntary basis, for last week the oil reserves in the country increased by 2.9 million barrels.
“The main thing is that you need to pay attention with an eye on next year – has improved the demand for fuel in response to lower prices, and if producers outside of OPEC to cut production, said a senior analyst at CMC Markets RIC Spooner. – If the stocks in the U.S. will increase, beginning in 2016 may be difficult for the oil market”.