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30.01.2013 16:40

Prices of oil futures fluctuate

The cost of oil fluctuates, due to the previously submitted report on oil, which showed a higher than expected increase. At the same time, the pressure on prices have published data showing that it was reported that the U.S. economy unexpectedly fell in the fourth quarter.

Prices little changed after the U.S. Department of Energy reported that crude oil inventories rose last week by 5.95 million barrels, compared with an increase of 2.8 million in the previous week, as well as analysts' forecasts at +2, 5 million is also learned that gasoline inventories fell by 956,000 barrels to 232.3 million, while distillate fuel stocks, including heating oil and diesel, fell by 2.32 million to 130.6 million.

Meanwhile, another report from the Commerce Department showed that gross domestic product declined in Q4 by 0.1%, which was much lower than the most pessimistic forecast of analysts. Note that this figure was the worst since the second quarter of 2009, when the world's largest economy was still in recession. Economists say that the reduction of public spending and lower growth stocks have reduced GDP by 2.6 percentage points.

Note also the background for the recent weakening of the dollar also increases the attractiveness of oil as an alternative investment.

March futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 97.65 dollars a barrel on the New York Mercantile Exchange. Duration of the February futures expire today.

March futures price for North Sea petroleum mix of mark Brent rose 36 cents to $ 114.56 a barrel on the London Stock Exchange ICE Futures Europe.

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