As at 18:52 Moscow time the cost of December futures for North sea mixture of Brent crude dropped to 49,41 dollars per barrel. The price of December futures for oil of mark WTI has decreased to 47,01 per barrel.
MOSCOW, 4 Nov. The price of oil declines by 1.9-2.3% in Wednesday evening after it became known that the oil reserves in the U.S. last week rose more than analysts had expected, according to AFP.
As at 18:52 Moscow time the cost of December futures for North sea petroleum mix of mark Brent fell by 2.3% to 49,41 dollars per barrel. The price of December futures for oil of mark WTI has decreased on 1,9% — to 47,01 per barrel.
On Wednesday the energy information administration of the U.S. Department of energy reported that commercial oil reserves in the United States (excluding strategic reserves) for the week ended October 30, rose to 2,847 million barrels, or 0.6%, to 482,8 million barrels. Analysts had expected the index will rise to 2,787 million barrels. The growth stocks for the sixth week in a row.
In the afternoon, before the publication of the Department of energy data, oil prices were in positive territory amid fears over a possible supply disruption “black gold”, but closer to the time of the publication of the report they passed to reduce, which did not exceed 1%.
“I’m surprised that prices managed to hold a good level. Last week oil prices were testing the market on the rise, and a week earlier for a fall. A strong increase of reserves may interrupt the growth of the market”, — quotes Agency Bloomberg of a word of a senior analyst at Tradition Energy Gene Mcgillian (Gene McGillian).