Oil prices fall ahead of data from the U.S. Department of energy on stocks

Oil prices fall ahead of data from the U.S. Department of energy on stocks


The cost of April futures on North sea petroleum mix of mark Brent skijalista 31.69 dollar per barrel. The price of March futures for oil of mark WTI fell to 30,23 dollars per barrel.

MOSCOW, 27 Jan. World oil prices have moved to lower after a sharp rise the previous day, the pressure on the price of “black gold” provide data from the American petroleum Institute (API) and the message is the U.S. Department of energy on oil reserves in the country, according to AFP.

As at 13.21 GMT the price of April futures on North sea petroleum mix of mark Brent fell by 2.73% to 31.69 dollar per barrel. The price of March futures for oil of mark WTI has fallen to 3,93% to 30,23 dollars per barrel.

A day earlier, the dynamics of prices on the market of “black gold” came to a dramatic increase in the range of 5-6%, brand WTI rose above 32 dollars a barrel and Brent crude is above $ 33 per barrel. This growth was driven by the statement of the head company Saudi Aramco Nasser Amin (Amin Nasser) that oil prices by the end of 2016 will increase because high-cost producers leave the oil market. Demand, he predicts, will also increase by more than 1.2 million barrels per day in 2016.

In addition, according to analysts from ANZ Bank, the mood in the market improved due to the good financial performance of U.S. companies and the talk that OPEC and Russia think about reducing production. “We believe the probability of agreement between the two parties is extremely low”, — quotes Reuters expert opinion.

“In the near future unfavorable factor will be the growth of oil reserves in the United States. At the current pace, next month the reserves will exceed the absolute maximum observed in April of last year,” ANZ analysts.

Thus, according to the API, oil stocks in the USA last week increased by 11.4 million barrels. Analysts had expected the indicator at the level of 3.5 million barrels. In the spotlight of market players are also the data about oil stocks in the USA from the Ministry of energy of the country, which will be published later on Wednesday. According to analysts, crude inventories for the week ended 22 January, increased by 3,277 million barrels — up to 489,777 million barrels.