Date: 7 days ago   Category: Financial

Prices of oil continue to grow because of stocks in the USA


Prices of oil continue to grow because of stocks in the USA
Last week oil reserves in the USA have failed on 8,64 million barrels, record rates since July. At the auction on Wednesday, September 12, oil of reference brands continues to rise in price after the jump the day before caused by signals of reduction of reserves of fuel in the USA. Writes Interfax Ukraine about it. The price of November futures for Brent at the London's ICE Futures Exchange has increased by $0,26 (0,33%) - to $79,32 for barrel. On Tuesday contracts have risen in price for $1,69 (2,18%) - up to $79,06 for barrel. The cost of the future for WTI for October at the electronic trading of the New York Mercantile Exchange (NYMEX) has increased for $0,61 (0,88%) by this time - up to $69,86 for barrel. The day before contracts have jumped up for $1,71 (2,53%) - to $69,25 for barrel. According to the American Petroleum Institute (API), oil reserves in the USA have failed last week on 8,64 million barrels, record rates since July. Meanwhile on the eve of the Ministry of Energy has lowered the forecast of production in the States for 2018 to on average 10,66 million barrels a day from 10,68 sugar-free million which were expected earlier. The forecast for 2019 is worsened up to 11,5 sugar-free million from 11,7 sugar-free million. Also participants of the market watch the hurricane Florence coming to the coast of Northern Carolina. So far he is more than in 1 thousand km. from the coast can also reach it in the evening on Thursday or in the morning on Friday. From the coast about 1 million people are evacuated, in the region it is expected up to 75 cm of rainfall also the increased threat of floods. Bad weather, most likely, won't affect oil-extracting platforms in the Gulf of Mexico and in Louisiana, however the Colonial pipeline on which gasoline and diesel fuel is delivered from Houston to New York that threatens with interruptions of supply of fuel can damage oil refineries. Earlier analysts noted that prices of oil grow because of risks for oil production in Libya, dolgosrochnykhopaseniye of rather sharp deliveries of reduction from Iran and also news about hurricane Florence strengthening. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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