Stockbrokers say crude oil is worth more than $ 63 on the U.S. fuel exchange. Per barrel – its US inventory increased, but production decreased. The raw material is estimated to be very high for more than a year.
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The value of the West Texas intermediate barrel to deliver on the IV at the NYMEX fuel exchange in New York was $ 63.40, an increase of 0.30 percent.
Brent crude oil price at ICE Futures Europe fuel exchange IV distribution in London. Is 67.28. Per barrel, up to 0.36 per cent.
U.S. crude oil inventories rose 1.28 million barrels, or 0.3 percent, last week. Up to 463 million barrels – according to a recent report from the US Department of Energy (DoE).
Petrol shipments increased by 12 thousand. Barrels, or 0.01 percent. 257.1 million barrels, DoE said.
However, the inventory of filtered fuels, including heating oil, fell by 4.97 million barrels, or 3.2%. Up to 157.2 million barrels – according to DoE estimates.
Meanwhile, the latest “winter episode” in Texas disrupted the operation of shale oil drilling rigs, reducing U.S. oil production to less than 10 million barrels a day. In addition, oil stocks around the world, including European countries, are shrinking, which is worsening the situation in fuel markets.
“Against this backdrop, Saudi Arabia and other OPEC + members are likely to add more oil to the markets in April, which could eventually offset the large oil price hike we have seen for some time,” said Vandana Intelligence, co-founder of Wanda Intelligence.
The next meeting of the OPEC + nations is scheduled for March – Cartel members and other oil suppliers will decide what their oil production will be in April.
WTI rose 2.5 percent on the NYMEX in New York City at the end of the previous session. And at the highest cost since January 2020.