Quotations of basic grades of oil gone down
Moscow. June 30. Kazakhstan Today - Quotations of basic grades of oil, following the results of tenders on Wednesday, have gone down, the agency reports referring to the review of oil market of group of companies OMT Consult.
The August contract of North Sea oil Brent at London stock exchange InterContinental Exchange has fallen in price by $2.13 - up to $134.33 for a barrel. The future contract of Texas light oil WTI with delivery in August in New York commodity exchange NYMEX has fallen in price by $2.45 - up to $134.55 for a barrel.
"Following the results of the regular trading session in New York commodity exchange, the price for oil on June 25 fell down on the background of increase of stocks of fuel in the United States. The report on stocks of oil and mineral oil in the USA was published on Wednesday," the analysts noted.
According to statistics, from June 14 till June 20, 2008 stocks of oil have grown up to 301.8 million barrels that is by 0.8 million barrels more as compared to last week in the United States. Commodity stocks of automobile gasoline last week decreased by 0.1 million barrels - up to 208.8 million barrels. Stocks of products of distillery, which include furnace black oil and aviation fuel, have increased by 2.8 million barrels - up to 119.4 million barrels. Operating ratio of oil capacity of refining enterprises has decreased from 89.3 % to 88.6 %.
According to the US Ministry of Energy, the American import of crude oil from June 14 till June 20, 2008 has decreased and has made, on average, 10.3 million barrels a day. Over the last four weeks import of crude oil has made, on average, almost 10 million barrels a day. Import of fuel of products of distillery made, on average, 107 thousand barrels.
The report of the Ministry of Energy informs on decrease of demand for oil in the USA, experts of the oil market inform. Volumes of consumption of fuel in the USA, according to the Energy Ministry, over a week have made, on average, 20.2 million barrels a day that is by 2.3 % below parameter of the similar period of the last year.
Over the last four weeks, demand for automobile gasoline has made, on average, 9.3 million barrels a day that is by 2.1 % below parameters of the similar period of the last year. Demand for fuel of products of distillery has over the reporting period made, on average, 4.1 million barrels a day that is by 1.1 % below the demand over the similar period of 2007. Demand for jet fuel over the last four weeks was reduced by 3.6 % in comparison with the similar period of the last year.
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