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- Oil continue to rise
Oil continue to rise
Oil prices are relatively stable after the Energy Information Administration reported an unexpected drop of oil reserves last week. Before the release of the data, oil prices rose. However, the Ministry of Energy also reported an increase in production in the United States for the second week in a row, and a slight decrease in refinery utilization.
Commercial US crude stocks last week fell by 6,200 thousand barrels -. to 504.598 million barrels, according to the weekly US Department of Energy report.
Commercial gasoline inventories decreased by 3204 thousand barrels and totaled 225.156 million barrels.
Commercial stocks of distillates rose to 2238 thousand barrels, reaching 164.992 million barrels.
Experts interviewed by Bloomberg, expected an increase in oil reserves by 3250 thousand barrels, a decline in gasoline inventories by 1,400 th. barrels and distillate stocks to increase by 200 thousand barrels.
The cost of the November futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 45.49 dollars per barrel on the New York Mercantile Exchange.
November futures price for North Sea petroleum mix of Brent crude rose to 47.11 dollars a barrel on the London Stock Exchange ICE Futures Europe.
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