Date: 7 months ago   Category: Financial

Price of oil fell lower than 55 dollars


Oil cost promptly falls on news from the USA where again raised discount rate and raw material inventories are reduced. The world prices for oil of reference brands accelerated falling during trading on Thursday, December 20, updating minima since September, 2017. The price of February futures for Brent at the London's ICE Futures Exchange decreased by 11:00 by $2.1 (3.67%) - up to $55.14 for barrel. During the session of quotation about $54.64 for barrel fell. The cost of the future for WTI for February at the electronic trading of the New York Mercantile Exchange (NYMEX) fell to $2.02 (4.19%), up to $46.15 for barrel by this time. The day before U.S. Fed following the results of a December meeting raised a base interest rate for the fourth time this year. However forecasts for 2019 are revised towards deterioration: estimates of GDP growth and consumer prices are reduced, and the American Central Bank expects two increases in a rate instead of three now. These signals forced participants of the market to doubt the prospects of growth of world economy and demand for oil. Besides, fears remain that announced by the countries of OPEC there will be not enough reduction of production to eliminate surplus of the offer. An additional negative factor for the oil market was the report of the U.S. Department of Energy according to which oil reserves in the country last week were reduced by only 497 thousand barrels though experts expected decrease by 3 million barrels. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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