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- Prices of oil futures rose to one-week high
Prices of oil futures rose to one-week high
The cost of oil has increased, rising at the same time to the highest level in a week, after OPEC increased its forecast for oil demand this year. Meanwhile, the price of oil affect the application of G-7, which promised to avoid devaluation.
Futures rose 0.8%, after so OPEC said that demand for oil cartel in 2013 will be 29.8 million barrels a day, which is 0.3% higher than the initial estimate, which was released in January. OPEC also said that in January, the OPEC mined 30.32 million barrels of oil a day, which is the lowest level since October 2011. In addition, OPEC still expects growth in global oil demand in 2013 to 800 000 barrels per day. We also add that OPEC expects oil production growth in non-OPEC, at 940,000 barrels a day in 2013
Meanwhile, we note that many of the participants are now awaiting data on oil reserves, which will be presented tomorrow by the Ministry of Energy. Note that according to the average forecast of analysts, oil stocks rose last week by 2.3 million barrels. We also add that today his report on the volume of crude oil present American Institute, which could affect the price of oil.
March futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose $ 0.32, and now stands at 97.35 per barrel on the New York Mercantile Exchange.
March futures price for North Sea petroleum mix of mark Brent fell $ 0.17, and is now $ 118.01 a barrel on the London Stock Exchange ICE Futures Europe.
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