Market Finance Time

Black gold, following the results of the tenders on Wednesday at world stock exchanges, still hardly became cheaper, as commercial stocks of oil in the USA have continued to grow. According to the data of a United States Department of Energy (DOE) about a condition of the fuel market of the country, this indicator has grown on 128 thousand barrels – to 343, 76 million barrels for last week. Thus gasoline stocks, on the contrary, have fallen to 1, 7 million barrels. Against this background the oil prices continue declining the third day successively.

It is necessary to notice that in the morning of the past day oil in expectation of reduction of commercial stocks of raw materials in the USA bargained hardly above $72 for barrel, however has slipped below this mark, and then later has fallen below $71 at all. The reason of it became strengthening of cost of US dollar. However after publication of the data about oil stocks in the USA barrel cost has started to rise again. As they say in the weekly report of a United States Department of Energy, published on Wednesday, commercial stocks of oil in the USA last week have increased by 0,128 million barrels (0, 04 %) – to 343, 76 million barrels. Thus experts, on the contrary, expected reduction of stocks of oil on 1, 15 million barrels. Meanwhile, commodity stocks of gasoline during a week on August, 15-21 were reduced to 1, 7 million barrels (0, 81 %) and have made 208,054 million barrels. Experts, in turn, predicted reductions of stocks of gasoline – on 0, 8 million barrels.
Today oil has continued to become cheaper. It is promoted by statements of China which is the second largest consumer of energy carriers in the world, about possible reduction of investments abreast industries. According to participants of the oil market, it will lead to decrease in world consumption of fuel. As to forecasts of experts concerning the further behavior of the oil prices in the world markets, analysts warn that in the near future the next records of barrel are not expected.