The local heating oil price is likely to make, however, one small step due to the market upwards. LEIPZIG. (Ceto) The fluctuations of in crude oil prices to continue. Throughout the day yesterday, increased support by the U.S. oil inventory data, clear.
Today morning they lost ground, however, easily. US light oil (WTI) hit with around 82 dollars per barrel to beech, North Sea oil (Brent) was about a dollar more expensive. After the holiday-related shifts in the previous week, the inventory estimates from America arrived this year on time. First of all, the American Petroleum Institute published its figures, yesterday afternoon the DOE DOE moved then. And especially the latter managed to give new impetus to the markets. Therefore the existing constructions in crude oil were lower than expected, in the central warehouse in Cushing stocks fell and also in the distillates inventories proved to be lower than expected by analysts. Furthermore, the increased product demand was interpreted as preistreibend. As a result the oil quotations put significantly to.
However: These developments are still against the backdrop of historically high oil inventories. For example, amounted crude oil reserves to 361 million barrels of, were still considerably less with 339 million barrels a year ago. Based on the fundamentals, the price level is still always unjustifiable. The local heating oil price is likely to make, however, one small step due to the market upwards.