Date: 4 months ago   Category: Financial

Prices of oil accelerated falling on data from the USA


Because of the sharp growth of stocks Brent crude oil fell lower than 80 dollars for barrel to the USA. The world prices for oil accelerated falling on Wednesday, October 17, on data of the American Ministry of Energy on essential increase in stocks in the USA, Interfax Ukraine writes. So, December futures for Brent crude oil at the London's ICE Futures Exchange fell in price by $1,91 - up to $79,5 for barrel. The cost of the future for WTI for November at the trading of the New York Mercantile Exchange (NYMEX) went down for $2,12 - to $69,8 for barrel. As it became known from the report of the Ministry of Energy of the USA, inventory levels of crude oil in the States last week jumped up on 6,49 million barrels. Gasoline reserves in the USA, according to the Ministry of Energy, decreased by 2,02 million barrels, distillates - by 830 thousand barrels. Analysts expected decrease in the first indicator by 1,52 million barrels, the second - on 1,5 million barrels. Stocks on the terminal in Cushing where the oil traded on NYMEX is stored, jumped up on 1,78 million barrels. Meanwhile the volume of production in the country decreased by 300 thousand barrels a day because of suspension of work of platforms in the Gulf of Mexico waiting for the hurricane Michael. Export of products of oil processing last week jumped up to record value since April, supply abroad gasoline recorded the third largest value in the history. Let's note, Brent oil fell in price by 4,4% following the results of the last week that became the most essential falling since April, the cost of WTI fell by 4%. Falling of the prices of both contracts became the first in five weeks and is connected, along with other factors, with the general collapse of the risky markets. News отв Telegram. Subscribe for our https://t.me/korrespondentnet channel

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