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19.06.2013 15:40

Oil: an overview of the market situation

Oil prices fell slightly, which was associated with the publication of a weekly report on oil stocks, which showed growth, but much smaller than the previous week. We add that the focus of the market also remains out of the accompanying statement by the Committee on the Federal Open Market.

The Department of Energy announced that for the week ending June 14, oil stocks rose by 300,000 barrels, while reaching a level of 394.100 million worth noting that according to the average forecasts of experts, the reserves had fallen by 1 million barrels. Recall that yesterday's report from the American Petroleum Institute showed that crude oil inventories fell by 4.3 million barrels.

In addition, the Department of Energy reported that gasoline inventories rose by 200,000 barrels, while distillate stocks fell by 500,000 barrels. Analysts had expected a rise in gasoline stocks up 1.2 million barrels and distillate inventories increased by 300,000 barrels.

Recall that the Fed plans to release its accompanying statement of the Committee on the Federal Open Market at 18:00 GMT, followed by a 18:30 GMT press conference of the Federal Reserve System. Add that oil prices may have risen markedly, if the central bank will signal clearly that plans to stick to its program of bond purchases and other measures that promote economic growth in the United States.

The cost of the July futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 98.27 dollars a barrel on the New York Mercantile Exchange.

July futures price for North Sea Brent crude oil mixture fell 8 cents to $ 106.05 a barrel on the London exchange ICE Futures Europe.

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