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28.08.2013 15:40

Oil: an overview of the market situation

The price of oil continued to rise, which has been associated with the publication of a government report showed that U.S. crude inventories last week rose.

Note that the data from the U.S. Department of Energy on oil and oil products over the past week have shown that

- Oil stocks rose 2.986 million barrels to 217.814 million barrels.

- Gasoline inventories fell - 587 million barrels. to 217.814 million barrels.

- Distillate stocks fell 0.316 million barrels. to 129.037 million barrels.

- Oil at the terminal in Cushing fell 0.837 million barrels. to 36.588 million barrels.

- Refining capacity utilization rate 91.2% versus 91% a week earlier.

We add that the price of WTI crude oil rose today to the highest level since May 2011 on concern that the conflict in Syria could spread and threaten oil supplies from the Middle East. As for the cost of oil brand Brent, it rose to a six-month high today.

Recall that the U.S., France and the UK are preparing for a military strike, and they laid the legal basis to justify their actions after the possible use of chemical weapons.

According to experts, Brent could rise to $ 150 a barrel, from about $ 116 today, if conflict breaks delivery. According to the data, the supply from Libya have fallen below 200,000 barrels per day, which was the lowest since 2011, when the operation against Muammar Gaddafi.

The cost of the October futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 109.99 a barrel on the New York Mercantile Exchange.

October futures price for North Sea Brent crude oil mixture rose to $ 115.58 a barrel on the London exchange ICE Futures Europe.


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