Oil prices rose after a multi-year price lows

Moscow. December 22. The prices for oil imports are rising Tuesday after falling during trading on Monday to multi-year lows since December 2008 for WTI and from 2004 to Brent. Market participants are waiting for new data on commodity stocks of oil in the U.S., reported Bloomberg.

February futures for Brent crude on London’s ICE Futures exchange at 9:00 Moscow time has risen in price $0.25 (0,69%) – to $36,6 per barrel. On the eve of the contract price fell to $0,53 (1,44%) – to $36,35 per barrel, its lowest point at the close of trading on July 5, 2004, during the session the price dropped to $36,04 per barrel.

Futures prices for WTI crude oil for February in electronic trading on the new York Mercantile exchange (NYMEX) on Tuesday morning rose at $0.27 (0.75 per cent) to $36,08 per barrel. According to the results of the previous session, the contract price dropped to $0,25 (0,69%) and amounted to $35,81 per barrel.

According to analysts surveyed by Bloomberg, the oil reserves in the U.S. rose last week by 1 million barrels. The official data will be released at 18:30 Moscow time on Wednesday.

Morgan Stanley’s updated forecast puts the time of recovery of equilibrium in the oil market until 2017.