FX & CFD trading involves significant risk
Oil prices fell slightly, while heading to the lowest level in almost three weeks, which was associated with positive news on Libya.
Recall that the rebels in Libya yesterday unexpectedly announced today plans to open two oil terminal of Es Sider and Ras Lanuf in the east of the country, who have not worked since last summer. The rebels have called the move a "goodwill gesture" to the government. Rather, they are hoping that the government will also meet them in regard to demands for greater autonomy in the eastern regions of the country. If two terminals will resume operations, the supply of oil from Libya will grow by about 500 thousand barrels per day. According to the National Oil Corporation of Libya, oil production in the country at the moment are about 320 thousand barrels per day.
The course of trade also affected data on oil reserves in the United States. The weekly report of U.S. Department of Energy was said commercial U.S. crude inventories last week fell by 3,155 thousand barrels - up to 384,935 million barrels. Gasoline inventories fell by 1,235 thousand barrels and reached 213,742 million barrels. Commercial distillate stocks rose by 975 thousand barrels, reaching 121,541 million barrels. Experts expected a decrease of oil reserves by 2400 thousand barrels, gasoline inventories increase by 550 thousand barrels and distillate stocks increase by 950 thousand barrels.
Recall that yesterday presented the American Petroleum Institute (API) report showed: commercial crude oil inventories in the United States during the reporting week changed insignificantly, down by 875 thousand barrels per day. While gasoline stocks in the United States decreased by 410 thousand barrels per day. However distillate stocks rose 4.4 million barrels. Congestion refinery in the U.S., meanwhile, rose to 89.9% against 88.6% the previous week
Market participants are also waiting for the monthly federal employment report, which is expected to show that the economy added 211,000 in June, new jobs. The data will be released one day earlier than usual, in connection with the celebration of U.S. Independence Day on Friday, July 4.
Cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 105.33 a barrel on the New York Mercantile Exchange (NYMEX).
August futures price for North Sea Brent crude oil mixture fell 40 cents to $ 111.68 a barrel on the London exchange ICE Futures Europe.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.