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- Price of oil futures fell to $112
Price of oil futures fell to $112
Oil prices fell today, while leaving to the $ 112 per barrel, after the data presented show that the volume of oil rose last week.
It became known that crude oil inventories in the week ended February 22 rose by 1.13 million barrels. Meanwhile, data showed that stocks of distillates, including heating oil and diesel, rose by 557,000 barrels.
Note that the price of Brent crude oil rose in the beginning of February to $ 120, which is a nine-month high, but has since fallen back on the background of the fact that many signs point to the weakness of the global economy. Meanwhile, experts say that there is potential for further losses.
We also add that the drop in oil prices was limited, as many market participants were awaiting speech by Federal Reserve Chairman Ben Bernanke's comments that were received as aid in restoring the economy, driving up the price of oil and other risky assets.
Moreover, we recall that the prevailing tensions between the West and Iran over Tehran's nuclear program has long supported prices, helping to keep the cost of Brent crude above $ 100 for most of 2012 and this year.
April futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 93.14 dollars a barrel on the New York Mercantile Exchange.
April futures price for North Sea petroleum mix of mark Brent fell 35 cents and is now $ 112.63 a barrel on the London Stock Exchange ICE Futures Europe.
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