– Oil prices continue to fall in Asian trading on Friday, analysts explain these dynamics by a technical correction after a strong run to a maximum of three years.
A negative factor is the data about growth of oil production and stocks of gasoline in the United States, writes MarketWatch.
The price of the March futures for Brent crude on the London ICE Futures exchange to 8:05 Moscow time has decreased on $0,68 (0,98%) to $68,63 per barrel.
Crude oil with February delivery in electronic trading on the new York Mercantile exchange (NYMEX) on Friday morning fell $0,78 (1,2%) to $63,17 per barrel.
By the end of session, 18 January the quotation of the futures on Brent fell by $0,07 (0.1 percent), to $69,31 for barrel, WTI – 2 cents (0.03 percent), to $63,95 per barrel.
According to the U.S. Department of energy said crude inventories last week fell by 6.86 million barrels. It’s more than inventory reduction, announced on the eve of the American petroleum Institute (5,12 million barrels), and more experts ‘ forecast (3.5 million barrels).
Meanwhile, reserves of petrol in the country increased by 3.62 million barrels, distillates fell by 3.89 million barrels.
Oil production in the U.S. increased by 2.7%, or 258 thousand barrels a day to 9.75 million b/d. While oil imports increased by 292 thousand b/d last week.
OPEC on Thursday announced the growth of oil production by the countries of cartel by 42 thousand b/d to 32.42 million b/d.