NEW YORK, February 12. /Corr. Igor Borisenko/. The price of oil of grade WTI with delivery in March, to the closing session on the new York stock exchange on Thursday stayed at $27,23 per barrel. During the session it was down to $26,18 per barrel.
Expert: oil price could fall below $20 due to the almost complete filling of the storage tanks
“Fear and frustration” – so described the mood of market participants, the head of Department of strategy of operations with the raw materials of the company to TD Securities Bart Milik. “We believe that the negative trends of the market will continue for a period of three to six months,” he added.
As noted by the newspaper The Wall Street Journal, the market sentiment was affected by the published on Thursday data company Genscape Inc., under which commercial oil reserves in Kalinga (Oklahoma), where oil is the main distribution center of the USA, for the period from 5 to 9 February increased by 550 thousand barrels. Earlier this week the information Department of the Ministry of energy reported that commercial oil reserves in Kalinga reached 64.7 million barrels, that is, the highest level since 2004, when the U.S. Department of energy began to publish regular reports on oil storage tanks.
Oil prices over 40 years