• Oil: an overview of the market situation

Noticias del mercado

21 octubre 2013

Oil: an overview of the market situation

The cost of oil futures moderately declined today , dropping below $ 100 per barrel ( Brent Brent), that was the first time c June this year , after it submitted a report showed that crude oil inventories in the U.S. rose to the highest level in three months. It should also be remembered that the price of oil fell last week , despite the strong depreciation of the U.S. dollar against major world currencies . This once again confirms that the main driver of the oil market right now are the dynamics of supply and geopolitical risks in the Middle East and North Africa.

Today, prices fell 1.3 percent after the Energy Information Administration reported that:

- Oil stocks rose 4.0 million barrels to 374.5 million barrels ;

- Gasoline inventories fell by 2.6 million barrels . to 217.3 million barrels . ;

- Distillate inventories fell by 1.8 million barrels . to 124.2 million barrels .

- Refining capacity utilization rate 86.2 % versus 86.0 % a week earlier ;

- Oil terminal in Cushing and rose by 0.4 million barrels . up to 33 million barrels

Recall that the Department of Energy has postponed release of data last week in connection with a 16 -day partial shatdaunom the federal government, which ended on October 17.

In addition, we add that the course of trade affected by data that showed that Saudi Arabia has increased oil production in August by 160 thousand barrels per day - up to 10.2 million barrels a day. The volume of oil exports from the country surged in August to 7.8 million barrels a day - a maximum of 14 months.

The cost of the November futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 99.79 a barrel on the New York Mercantile Exchange.

December futures price for North Sea Brent crude oil mixture fell 33 cents to $ 109.65 a barrel on the London exchange ICE Futures Europe.

Enfoque del mercado
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