– Oil prices are rising standard grades in the Asian session on Thursday after a significant decline the previous day on data on fuel stocks in the USA last week.
February futures for Brent oil at the London ICE Futures exchange to 8:03 Moscow time has risen in price $0.23 (0.38 percent) to $61,45 per barrel. At the auction the previous day the price had fallen to $1,64 (2.61 percent) and $61,22 per barrel.
Quotes of WTI oil futures for January on the morning of Thursday rose $0.17 (0.3 percent) to $56,13 per barrel. At the end of last session the price fell to us $1.66 (2,88%) and amounted to $55,96 per barrel.
For WTI the price closing the previous trading session was the slowest since November 16, Brent – 2 November, according to data from FactSet.
As reported by the U.S. Department of energy, the oil reserves in the country last week decreased by 5.61 million barrels. It exceeded the expectations of the surveyed S&P Global Platts analysts who on average expected a decline of 4.1 million barrels.
However, a strong negative impact on the mood of the bidders had news of a sharp increase in the reserves of gasoline – by 6.78 million barrels. The result came as a surprise to experts who expected an increase of only 2.7 million barrels.
“Gasoline production at the refinery actually exceeded the demand and approached the record 9,758 million barrels per day compared with a daily demand 8,895 million b/d last week,” said a senior market analyst at Price Futures Group Phil Flynn.
Oil production in the U.S. rose by 25 thousand b/d for the week and reached a record volume of 9,707 million b/d. Imports decreased by 127 thousand b/d.