Oil prices rose modestly today

Oil futures prices rise moderately, continuing yesterday's trend. The market has a report on US petroleum reserves, which have a smaller-than-expected increase in crude oil stocks.

Further price increases constrain news of the completion of a three-day strike of Kuwaiti oil. According to Kuwait increased production to 1.6 million barrels per day compared to 1.1 million barrels per day on Sunday. However, such production volumes are still significantly below the March figure of 2.8 million barrels per day. "Kuwait is returned to full production, and we expected that oil will fall even further after the failure of the Doha meeting", - said the chief raw SEB analyst Bjarne Shildrop. Recall oil-producing countries following the meeting in Doha on April 17 failed to come to an agreement on freezing oil production. The next time a possible freeze of production will be discussed at the OPEC meeting in Vienna in June.

Meanwhile, the US Department of Energy reported that in the week of April 9-15, oil stocks rose 2.1 million barrels to 538.6 million barrels (historic high for this time of year). Analysts had expected an increase of reserves by 2.5 million. Barrels. Oil reserves in Cushing terminal fell 248,000 barrels to 64.3 million barrels. Gasoline inventories fell by 110,000 barrels to 239.7 million barrels. Analysts had expected a drop of 1.5 million barrels. Distillate stocks fell by 3.6 million barrels to 159.9 million barrels. Analysts predicted that distillate stocks remain unchanged. Meanwhile, refining capacity utilization rate increased by 0.2% to 89.4%. Analysts expected an increase of 0.1%. Also, the data showed that oil production in the US in the week April 9-15, fell to 8.953 million barrels per day versus 8.977 million barrels the previous week. Recall yesterday's report from the American Petroleum Institute (API) showed that crude oil inventories last week rose by 3.1 mln. Barrels, while analysts had expected growth of 2.4 million. Barrels. Oil reserves in Cushing terminal fell by 0.2 million barrels, gasoline inventories -.. By 1.02 million barrels, while distillate stocks - by 2.3 million barrels..

WTI for delivery in May rose to $42.77 a barrel. Brent for May rose to $44.53 a barrel.