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Brent drops to $ 69.2

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Brent drops to $ 69.2
April 04
09:00 2019

The data published on Wednesday by the US Department of Energy on the volume of commercial fuel stocks in the USA, also influenced the price of the benchmark oils, giving them the opportunity to gradually decline on Thursday.

Brent contracts for June have dropped by 4 cents to the value of $ 69.27 per barrel. A day earlier, they cost $ 69.31. May futures for WTI have lost slightly more – 8 cents. On Thursday, their price was $ 62.38. We recall that during the previous session they stopped at the price of 62.46 US dollars.

According to the Energy Aspects analysts, the shortage of oil in the current quarter will be approximately 1.1 million b / d. In the third quarter, this figure will increase to 2 million. In the first quarter, the oversupply of 200 thousand b / d was recorded.

According to the data released by the US Department of Energy, last week oil reserves rose by 7.2 million barrels. The total reserve amounts to 449.5 million. The analysts assumed that the ministry would report on the stock decrease of 500 thousand.

Cushing stocks have increased by 200 thousand barrels. Gasoline stocks in the United States have decreased by 1.78 million barrels, while the distillates decrease by 2 million.

Mining in the United States has increased by 100 thousand b / d. Now it is 12.2 million b / d. This is an absolute record for the United States. Oil imports have increased by 223 thousand, to 6.76 million. Conversely, exports have fallen by 163 thousand – to the value of 2.72 million b / d.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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