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Prices for crude oil West Texas Intermediate rose moderately, while closer to $ 68 per barrel, as a government report pointed to a decline in US oil inventories. Meanwhile, the price of Brent crude oil fell slightly.
US Department of Energy announced that commercial oil reserves in the week 22-28 November fell by 3.7 million barrels to 379.3 million barrels, while the average forecast of anticipated growth of 600,000 barrels. Gasoline inventories rose by 2.1 million barrels to 208.6 million barrels. Analysts had expected gasoline inventories increase compared to the previous week at 800,000 barrels. Distillate stocks rose by 3 million barrels to 116.2 million barrels, while analysts had expected a decrease of 300,000 barrels.
Utilization rate of refining capacity increased by 1.9 percentage points to 93.4%. Analysts expected an increase of 0.4%. We also learned that the oil terminal in Cushing decreased by 0,694,000. Barrels - up to 23.885 million. Barrels
Recall yesterday's data from the Institute API reported a drop of oil reserves by 6.5 million. Barrels (per week to 28 November). Also, it was reported that gasoline inventories in the US have remained unchanged, while distillate inventories rose by 2.5 million. Barrels.
The course of trading and continues to influence the recent decision by OPEC. "The market is still trying to get back on their feet after the OPEC meeting last week. It seems there is some short-term support in the mark of 70-72 dollars per barrel mark Brent. But, in general, the market is still suffering from the uncertainty, "- said analyst Danske Bank A / S Jens Pedersen.
Worth to emphasize that in recent days, the market is characterized by sharp ups and downs in prices. "The instability of the market due to the fact that investors are trying to predict future events," - said the chief investment officer of Ayers Alliance Securities Jonathan Barrett. According to him, prices are close to the lower limit, because Russia can take some measures to stabilize them. Technical analysts believe that the fall in prices continue and the price of WTI crude oil could fall to $ 50 per barrel.
Cost of January futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 67.74 dollars per barrel on the New York Mercantile Exchange.
January futures price for North Sea Brent crude oil mix fell $ 0.41, to $ 70.64 a barrel on the London Stock Exchange ICE Futures Europe.
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