Rus News Journal

The prices for oil have fallen on March, 18th against growth of stocks in the USA

More than the prices for oil have fallen to dollar in New York after the next report of a Department of Energy of the USA has shown essential growth of stocks of oil and oil products in the country.

following the results of the auctions on Wednesday, on March, 18th, on New York Mercantile Exchange the price of the future contract for oil of mark WTI with delivery in April has decreased on 1,02 dollars, to 48,14 dollars/ barr. On InterContinental Exchange in London the May contract on oil Brent Crude has fallen in price on 0,58 dollars and was closed on a mark 47,66 dollars/ barr.

Management of the power information of the USA (EIA) has let out on Wednesday the report on stocks of oil and oil products in the USA for the week which has come to the end on March, 13th. The new data has disappointed investors in the oil market. Oil stocks have grown on 1,94 million barr., to 353,3 million barr. That exceeds expectations of analysts (+1,5 million barr.) . Thus in storehouse Cushing which is point of delivery of the oil bargaining on NYMEX, the oil volume has increased for this period by 368 thousand barr., to 33,9 million barr.

As analysts mark, growth of stocks of oil was marked, despite increase in loading of oil refining factories. Renewal by a number of factories of work after not planned faults in the middle of a season of preventive repair has led to increase in loading NPZ on all country as a whole on 60 thousand barr. In day, to 14,18 million barr. In day. The loading factor has made 82,1 %. Indicators of import of oil in the USA have not changed Almost. Last week volumes of imported oil have grown all on 59 thousand barr. In day, to 9,180 million barr. In day.

if the increase in stocks of oil was expected essential growth of stocks of gasoline became for participants of the market a bolt from the blue. Data EIA has shown expected growth of stocks of oil in the USA, however stocks of gasoline which have unexpectedly grown on 3,2 million barr became a surprise of day., - the senior analyst on oil BNP Paribas of Harry Chilingurian marks. - Total stocks of gasoline have grown against sharp increase in stocks of components of motor fuel (stocks of traditional gasoline were reduced), and it contrary to increase in volumes of deliveries of these components at oil refining and mixing factories to almost 1,4 million barr. In day and to import decrease.

gasoline import was reduced last week with 1,257 to 1,149 million barr. Besides, according to EIA, for last month demand for gasoline has grown on 1,1 % in comparison with the same period 2008.

the Increase in quantity of gasoline in storehouses of the USA became the most considerable for last two months. As a result gasoline stocks in the country have made 215,7 million barr. Meanwhile analysts predicted decrease on 1,5 million barr. Stocks of distillates also have grown and, having added 112 thousand barr., have reached 145,5 million barr.

the Data about growth of stocks of oil and oil products in the USA has caused recession in the oil market. As a result of the price have fallen on Wednesday below 49 dollars/ barr. However, participants of the market not for long kept pessimism. New day has begun new growth. The push has given to the prices for oil unexpected step FRS the USA. In the nearest the Federal reserve system has promised half a year to allocate 300 mlrd dollars for the repayment of long-term state bonds.

FRS will use all accessible tools to achieve restoration of economy and to keep price stability, - it is told in the message of Committee on operations in the open market of the USA. - to provide the big support to the market of mortgage lending and the housing market, FRS has decided to add still means to already allocated for rescue of financial stability of the USA 750 mlrd dollars As a result on support of economy in this year will go 1 trln 250 mlrd dollars .

It has revived hopes of participants of the market of fast restoration of economy of the USA. On this background share indexes upwards have gone. Growth and in the oil market has renewed. In 10:41 mornings on the Sydney time (2:41 Moscow time) the price for the American oil has reached 49,42 dollars/ barr.

Department of the analytical information