World oil prices are rising on Wednesday amid data from the American petroleum Institute (API), speaking about reduction of oil reserves in the country and pending statistics, US Department of energy, according to the auction.
As at 08.10 GMT the cost of July futures for North sea petroleum mix of mark Brent has grown on 1,09% – to RUB 49.15 per barrel, the price of July futures on WTI – on 1,25%, to 49,23 dollars per barrel, reports RIA “Novosti”.
According to the report of API, oil stocks in the United States in the previous week decreased to 5,137 million barrels, while analysts expected a contraction of 3.3 million barrels. The oil reserves in the country’s largest terminal Cushing (Cushing) has decreased by 0,189 million barrels, gasoline inventories increased by 3.6 million barrels, and distillate inventories decreased by 2.9 million barrels.
Now investors awaited data on oil stocks in the US from the energy of the country, which will be published later on Wednesday. According to analysts, for the week ended 20 may, they fell by 2.45 million barrels to 538,85 million barrels. Last week the oil reserves in the U.S. last week rose 1.3 million barrels, or 0.2% to 541,3 million barrels.
“Technically, the market is preparing for the fact that (oil price) WTI rises above $ 50 per barrel, and the intrigue lies in where it will go from this level,” said Reuters market analyst at OptionsXpress, Ben Le Brun.
