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Prices for WTI crude oil continued to rise , reducing the gap with oil Brent, which cost also increased. Influenced the course of trading post by the Energy Information Administration that oil at Cushing fell last week .
Prices rose 1 percent, after it became known that the oil terminal at Cushing fell by 1.08 million barrels for the week ended February 21.
Also, the Department of Energy data on changes in stocks in the week February 17-22, showed :
- Oil reserves rose by 0.068 million barrels to 362.393 million barrels ;
- Gasoline inventories decreased by 2,807 million barrels . to 230.6 million barrels . ;
- Distillate stocks rose by 0.338 million barrels . to 113.062 million barrels .
- Refining capacity utilization rate of 88.0 % against 86.8 % a week earlier .
Recall that yesterday its reserves data provided the Institute of Oil API. They showed :
- Capacity utilization in the week 87.3 % vs. 86.8%
- Distillate stocks last week -0.693 million barrels
- Gasoline inventories last week -0.314 million barrels
- Oil reserves for the week 0.822 million barrels
Also, add that to the new forecast U.S. Energy Information Administration (EIA), oil production in Syria is unlikely to recover in the near future , as the country continued clashes between government troops and opposition forces . In its report on Syria EIA noted that the country's oil production has fallen sharply since March 2011 due to the conflict and the subsequent introduction of Western sanctions , which resulted in a significant portion of lost revenues from oil exports.
Some market participants continue to act out a report published yesterday by the European Commission , which improved growth estimate for euro area real GDP growth for the current year to 1.2 % from 1.1% in the autumn forecast and assessment in 2015 - to 1.8 % from 1.7% . The European Commission has also improved the outlook for economic growth in the United States for the current year to 2.9 % from 2.6% , in 2015 - to 3.2% from 3.1% . At the same time, the outlook for the global economy worsened : European Commission now expects growth of 3.6% and 3.9 % in 2014 and 2015 respectively , while in November predicted growth of 3.95% and 4.35 %.
April futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 102.77 per barrel on the New York Mercantile Exchange (NYMEX).
April futures price for North Sea Brent crude oil mixture rose 14 cents to $ 109.76 a barrel on the London exchange ICE Futures Europe.
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