(raw materials / closing price /% change)

Oil 52.98 -0.24%

Gold 1,234.70 +0.13%

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 9.5 million barrels from the previous week. At 518.1 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year.

Total motor gasoline inventories increased by 2.8 million barrels last week, and are above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week.

Distillate fuel inventories decreased by 0.7 million barrels last week but are above the upper limit of the average range for this time of year. Propane/propylene inventories fell 2.6 million barrels last week but are in the middle of the average range. Total commercial petroleum inventories increased by 11.1 million barrels last week.

This morning the New York futures for Brent fell by 0.3% to $ 55.80 and WTI fell 0.49% to $ 52.94. Thus, the price of black gold trading lower on the background of investors' doubts about production cuts. Recall that Russia and OPEC decided to cut production by 1.8 million barrels / d in the first half of '17. In January, the delivery of these countries have fallen to the level of 29.888 million barrels / d. Today, the market is waiting for the publication of statistics from the US Energy Information Administration.