The oil market reacted negatively to data from the American petroleum Institute (API) about increase of reserves of this fuel in the United States, the price of Brent crude fell to its lowest level in three months, reports Interfax-Ukraine.
So, September futures for Brent on London’s ICE Futures exchange fell $0.39 (0.54 percent) to $71,77 per barrel.
The quotation of futures for WTI for August on the new York Mercantile exchange (NYMEX) decreased by this time $0,59 (0,87%) – to $of 67.49 per barrel.
Oil inventories in the U.S. increased last week to 5,836 million barrels, according to the office of information in the field of energy us Department of energy.
Analysts on average predicted reduction of oil reserves by 4.1 million barrels.
On the eve of the American petroleum Institute suddenly announced that the volume in the storage tanks of the U.S. last week increased by 629 thousand barrels.
However, according to the Ministry of energy, gasoline inventories in the US fell by 3,165 million barrels instead of the expected decrease by 700 thousand barrels. Reserves of distillates decreased by 371 thousand whereas wall street had predicted an increase of nearly 1.2 million barrels.
Oil production in the U.S. last week jumped by 100 thousand b/d and for the first time reached 11 million b/d.
Oil exports from the U.S. set a new record – 2,133 million barrels per day (b/d), which corresponds to market expectations. Net oil imports into the country for the first time fell below 2 million b/d.
We have previously reported that in the United States called the most reliable world currency.