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- Oil prices fluctuate
Oil prices fluctuate
The cost of oil fluctuates, due to the expansion of the pipeline, which can reduce the excess in the center of the USA, and with little appreciation of the dollar against the euro.
Prices rebounded slightly since the offshore pipeline running from Cushing (Oklahoma) to the Gulf Coast on January 11 resumed its work in full - up to 400,000 barrels a day, compared with 150,000 barrels before.
Energy Information Administration noted that the expansion of the sea route could reduce oil Cushing, which rose to 50.1 million barrels for the week ended January 4, registering with the highest level since 2004.
In addition, a small increase in oil prices was due to the fact that the weather forecasters said the approach of cold weather to the East Coast and Midwest, which would increase the consumption of fuel oil. According to the data, about 26% of households in the North use fuel oil for heating.
Meanwhile, experts say that the oil market is a bit "nervous" about the national debt ceiling, against which more and more traders have resorted to closing their positions.
February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 93.41 dollars a barrel on the New York Mercantile Exchange.
February futures price of North Sea Brent crude oil mix vіrosla by 35 cents to $ 111.00 a barrel on the London Stock Exchange ICE Futures Europe.
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