Moscow. June 7. INTERFAX.RU – oil Prices stable on Wednesday after a significant jump on the results of the previous session.
The cost of the August futures for Brent crude on the London ICE Futures exchange to 8:05 Moscow time fell by $0,03 (0,06%) to $50,09 per barrel. By the close of market on Tuesday futures rose in price by $0,65 (1,31%) – to $50,12 per barrel.
Futures price for WTI crude oil for July in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time $of 0.05 (0.1 percent) to $48,14 per barrel. The contract rose $0,79 (1,67%) to $48,19 a barrel following the previous session.
The attention of traders focused on data from the U.S. Department of energy on oil reserves in the country over the past week, which will be released Wednesday at 17:30 GMT. Analysts polled by S&P Global Platts expect a drop of the oil reserves in the United States for the 9th consecutive week by 3.5 million barrels.
However, the enthusiasm of investors associated with the continuing inventory reduction in the US, offset by fears that oil production in the country, which had previously reached maximum in the first nine months of 9.3 million barrels per day (b/d), will continue to grow.
The Department of information energy (EIA) of U.S. Department of energy on Tuesday raised its forecast of production growth in the country in 2018 0.4% compared to the previous assessment – to 10.01 million b/d, which is above the record level of 9.6 million b/d, recorded in 1970, writes MarketWatch.
In addition, EIA lowered its price forecasts for WTI and Brent in 2018. Thus, the forecast average cost of WTI decreased by 2.7% to $53,61 per barrel, Brent fell by 2.6%, to $is 55.61 per barrel