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Brent prices rose moderately after earlier today hit a low for the last 13 months. As for oil WTI, its price is slightly decreased.
One of the reasons for the drop in oil prices was the resumption of supplies from Libya. August 12 of the Libyan port of Ras Lanuf came tanker with 680 thousand barrels of oil. He goes to Italy, according to the Ministry of Libya's oil. Oil supply is growing amid weakening demand. In the second quarter of 2014, according to the International Energy Agency, the pace of oil demand growth were minimal in two years. IEA lowered the outlook on the dynamics of growth in oil demand this year by 180,000 barrels per day to 1 million barrels. One of the reasons for reducing the rate of growth in demand was slowing Chinese economy. Industrial production in July increased by 9% compared to 9.2% in June. China has also slowed the buildup of oil reserves.
Also today, the Department of Energy announced that commercial oil stocks in the United States last week rose by 1,401 thousand. Barrels - up to 367,019 million barrels. Gasoline inventories fell by 1,160 thousand. Barrels and reached 212,689 million barrels. Commercial distillate stocks fell by 2,421 thousand. Barrels, reaching 122,502 million barrels.
Experts expect diminishing reserves of oil for 2050 thousand. Barrels, gasoline inventories decrease by 1,500 thousand. Barrels and distillate stocks decrease by 50 thousand. Barrels.
Recall that yesterday's report from the think tank the American Petroleum Institute (API) has shown that commercial crude oil inventories in the United States by the end of the reporting week, which ended on August 8, increased by 2.0 million barrels., While gasoline inventories rose by 2.7 million barrel. In this case, heavy distillate stocks in the United States for the past reporting period decreased by 2.6 million barrels., The report API.
Market participants also drew attention to the report from the Commerce Department. As it became known, in June, inventories of goods in the warehouses of the United States rose by 0.4% compared to May, which was in line with expectations of experts. Recall that in May, inventories increased by 0.5%. Sales from warehouses in the last month rose by 0.3%, as in May. Stocks of retailers in June increased by 0.5%, their sales increased by 0.2%. Stocks in the warehouses of companies processing industry increased by 0.3% and sales - by 0.5%. Wholesalers increased inventories by 0.3% and sales - by 0.2%. The number of cars in the retail stores in June rose by 0.9%, their sales were down 0.3%. Stocks in warehouses in June was enough to ensure sales, taking into account the current rate of demand for 1.29 months, as in May.
The cost of the September futures for the American light crude oil WTI (Light Sweet Crude Oil) fell to $ 96.82 a barrel and then dropped to $ 97.25 a barrel on the New York Mercantile Exchange (NYMEX).
September futures price for North Sea Brent crude oil mixture rose $ 0.40 to $ 103.22 a barrel on the London exchange ICE Futures Europe.
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