Colosseum a.s. (Colosseum a.s.)
Commodities  |  November 22, 2012 12:12:30

The decline in oil inventories turned on growth

ColosseumFor the third time in the last four days, strengthened in the stock market yesterday, the New York Mercantile Exchange, CME Group within the most active futures contract for WTI U.S. light crude oil. Were caused by an unexpected drop in commercial stocks of crude oil and gasoline in the U.S. and a decline in applications for unemployment benefits ibid. Regular statistics of the U.S. Department of Energy reported in the week ending 16 November decline of oil reserves in the United States by 1.47 million barrels to total 374.5 million. Analysts polled by Bloomberg had expected an increase of 1 million barrels. Gasoline inventories declined in the same period by 1.55 million barrels and distillate stocks (diesel and heating oil) were down by 2.68 million to a total of 112.8 million, the lowest level in the last more than four years.The January futures on U.S. light crude oil WTI strengthened during yesterday's trading session at the $ 0.63 closing price of $ 87.38 per barrel.

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