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Oil prices rose today, recording a session with the second increase in a row, as government data showed that U.S. crude inventories fell unexpectedly last week.
Prices rose by 1.2% after the U.S. Energy Department reported that crude oil inventories fell by 0.951 million barrels. Note that, according to analysts reserves had increased by 2.2 million barrels.
Oil reserves were down to the level of 360.3 million in the seven days that ended on January 11. In addition, data showed that oil production in the U.S. rose to 7.04 million barrels a day, which is the highest level since January 1993.
Gasoline inventories rose by 1.91 million to 235 million, while analysts had expected an increase of $ 2.7 million the same time, supplies of distillate fuels, which include heating oil and diesel, rose 1.67 million, making with 132.4 million barrels, which was slightly higher than expected at 1.5 million barrels.
The report also showed that the capacity of refineries dropped to 87.9%, compared to 89.1% last week, the EIA report showed.
Meanwhile, OPEC announced today that oil production in December fell by 465,000 barrels a day to the level of 30.4 million at the same time, OPEC noted that retained its global demand forecast for 2013 demand unchanged.
Also, higher oil prices contributed to a published report on industrial production in the U.S., which showed that in December, production has increased, showing thus the second consecutive monthly increase.
February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 94.11 dollars a barrel on the New York Mercantile Exchange.
February futures price for North Sea petroleum mix of mark Brent fell to $ 110.41 a barrel on the London Stock Exchange ICE Futures Europe.
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