Oil is cheaper on the API data about unexpected growth of stocks in the U.S.

Oil is cheaper on the API data about unexpected growth of stocks in the U.S.


The cost of the February futures for North sea petroleum mix of mark Brent has fallen to 36,97 USD per barrel. The price of February futures for oil of mark WTI fell to 36,81 USD per barrel.

MOSCOW, 30 Dec. The world prices for oil on Wednesday have accelerated the decline on reports from the American petroleum Institute (API) about unexpected increase in U.S. inventories and in anticipation of the publication of the relevant data of the Ministry of energy of the country, according to AFP.

As at 15.11 MSK price of February futures for North sea petroleum mix of mark Brent has decreased on 2,17% — to 36,97 USD per barrel. The price of February futures for WTI crude oil fell 2.79% to 36,81 USD per barrel. Earlier, WTI oil was down more than 3%.

Earlier API reported that oil reserves in the U.S. last week rose by 2.9 million barrels to 487,7 million barrels, while analysts, on the contrary, had expected a decline of 1 million barrels. Now investors expect reserves data from the U.S. Department of energy. According to analysts, crude inventories for the week ended December 25th fell by 2,457 million barrels — up to 482,343 million barrels.

“Today data is the U.S. Department of energy will cause the price volatility before the end of the year,” he told The Wall Street Journal investment analyst at Phillip Futures, Daniel Ang (Daniel Ang).