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07.05.2014 15:40

Oil: an overview of the market situation

The price of oil rose moderately after a government report showed that U.S. crude inventories declined for the previous week .

Data from the Department of Energy on changes in stocks in the week April 28 - May 3, showed :

- Oil reserves fell by 1.781 million barrels to 397.576 million barrels ;

- Gasoline inventories increased by 1,608 million barrels . to 213.18 million barrels . ;

- Distillate stocks fell by 0.447 million barrels . to 114.002 million barrels .

- Refining capacity utilization rate of 90.2 % against 91.0 % a week earlier ;

- Oil terminal in Cushing declined by 1.395 million barrels . to 24.033 million barrels .

Experts polled by Bloomberg, expected increase in oil reserves by 1250 thousand barrels , gasoline inventories increase by 500 thousand barrels and distillate stocks increase by 750 thousand barrels.

Recall also that their data were presented yesterday Institute of oil API. They showed :

- Capacity utilization in the week 91.3 % vs. 90.5%

- Distillate stocks last week 0.763 million barrels

- Gasoline inventories last week 2.4 million barrels

- Crude oil inventories -1.8 million barrels

Meanwhile, adding that oil traders continued to monitor developments in Ukraine , where the conflict between the government and pro-Russian separatists continued to deteriorate , leading to fears that the crisis will grow deeper tightening U.S. opposition . The West accuses Russia manual separatist rebellion in the east of Ukraine , after the annexation of the Crimea in the past month.

The dynamics also influenced word Fed chief Yellen , who gave a rather positive assessment of the economic outlook , speaking before Congress . Nevertheless , it signaled that her optimism has not changed the central bank's plan to retain short-term interest rates near zero for the foreseeable future .

June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 100.66 per barrel on the New York Mercantile Exchange (NYMEX).

June futures price for North Sea Brent crude oil mixture rose $ 0.31 to $ 107.50 a barrel on the London exchange ICE Futures Europe.

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