The oil market has grown on news about reduction of stocks in the USAthe Prices for oil have exceeded a mark 72 dollars/ barr. News about reduction of stocks of oil in the USA became an occasion to growth of quotations. Support to the prices was rendered also by positive dynamics in the share markets, and also the further easing of dollar.
following the results of the auctions on Wednesday, on September, 16th, on New York Mercantile Exchange the price of the future contract for oil of mark WTI with delivery in October has grown on 1,58 dollars, to 72,51 dollars/ barr. On InterContinental Exchange in London the November contract on oil Brent Crude has risen in price for 1,81 dollars, having closed on a mark 71,67 dollars/ barr.
the Next report of the Department of Energy of the USA has shown mixed dynamics of stocks of oil and oil products in the country on accounting week. While oil stocks were reduced to 4,73 million barr., to 332,8 million barr. (Against expected decrease on 2,5 million barr.) The quantity of gasoline has continued to grow in the American storehouses. So, gasoline stocks have increased by 0,5 million barr., to 207,7 million barr., distillates - 2,2 million barr., to 167,8 million barr.
Analysts specify in essential reduction of import of oil in the United States for the accounting period - from 9,095 million to 8,903 million barr. In the day, caused considerable reduction of its stocks. According to experts, it can mean that demand outside of the USA above, than is supposed. In the United States has put with demand while are not in the best way. In comparison with a week before last volumes of consumption of fuel in the country were reduced to 2,1 %, from 19,522 million to 19,104 million barr. In day. However, in comparison with the past year demand for fuel has increased by 0,3 %.
Meanwhile some analysts are not inclined to estimate the next reduction of stocks of oil too optimistically. “ Though current decrease has followed considerable reduction of stocks last week (- 6 million barr.) Stocks “ oil “ in the USA nevertheless as a whole continue to exceed the top border of a five years` range, - the senior analyst on oil BNP Paribas of Harry Chilingurian speaks. Is hardly it is possible to name deficiency, considering the future turn in productivity of oil refining factories in which result the requirement for crude oil " will decrease;.
And still neither similar reasons, nor news about the further increase in stocks of oil products have not managed to moderate optimism of participants of the market which has been warmed up by growth at stock exchanges and new easing of dollar. Beneficial effect on the auctions words of head FRS have continued to render the USA Ben Bernanke that recession in the country has come to an end.
the American and European share indexes have finished session on Wednesday in considerable “ plus “. The fine mood of investors has been caused by signs of end of economic recession and news about intention of the billionaire of Warren Baffeta to take shares. In its opinion, “ a nightmare “ which has followed a financial system collapse last year, has ended. “ now we cannot tell that the economy becomes better or worse, but it is better, than it was possible to think six months ago. The nightmare of last year has ended, and it has occurred partially thanks to the state, - has declared U.Baffet. - the economy has not risen yet, but it will rise. I do not know, when, but it can be and tomorrow “.
On this background the index of wide market Standard and Poor`s has grown on 1,53 %, an index “ blue counters “ Dow Jones has added 1,12 %, and hi-tech NASDAQ has risen on 1,45 %. In Europe British FTSE 100 French CAC - 40 - on 1,64 %, German DAX - on 1,27 % has grown on 1,63 %.
the Dollar exchange rate has fallen on Wednesday to 1,4721 dollars/ euro. Thus the intraday maximum has made 1,4737 dollars/ euro that became a minimum level since September, 25th 2008ã. Weakness of the American currency raises appeal of the raw goods as protective tools from inflation. Besides, it supports purchases of the raw materials nominated in dollars which becomes rather cheaper, than nominated in other currencies.
department of the analytical information