Oil prices grow on the data about stocks in the United States

Цены на нефть растут на данных о запасах в США

Oil prices returned to growth

Brent crude in London rose $0,68, while the price of WTI in new York rose $0.44.

World oil prices reference marks are moderately expensive on a database of more modest growth of reserves of “black gold” in the United States than the market expected. This according to the auction on Wednesday evening, February 6.

So, the April futures for Brent crude on London’s ICE Futures exchange rose $0.68 to (1,10%) and is trading at $62,66 per barrel.

Quotes of WTI oil futures for March at the auction of the new York Mercantile exchange (NYMEX) rose $0.44 (0.82 percent) to $54,10 per barrel.

According to the US Department of energy, the oil reserves in the country last week rose by 1.26 million barrels. In turn, the market experts on average were expecting an increase of 3.7 million barrels.

Reserves of gasoline in the United States increased by 513 thousand barrels, distillates fell to 2.26 million barrels. Analysts predicted increase in stocks of both gasoline and distillates of 1.7 million barrels.

Oil production in the U.S. last week has not changed, remaining at record 1983 level of 11.9 million barrels per day by the end of the fourth week in a row.

Before the price of oil fell below $62 on staticice weak industrial orders in the United States. Investors interpreted this statistic as just another symptom of the slowdown of the global economy.

Earlier in January, the world prices for oil have shown record growth for the month. Quotes of WTI soared by almost 22%.

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