Meanwhile, it is to expect the local oil market today with slight surcharges. LEIPZIG. (Ceto) The price of oil has clearly yesterday evening. The barrel of US light oil (WTI) cost about 76 dollars in late trading, North Sea oil (Brent) stood at just under 79 dollars. Also in the morning, presented themselves to the quotes and won once again add a half dollar.
Analysts see the reason for the increase in price in the last published U.S. inventory data, which showed an unexpectedly large decline in crude oil and middle distillates, including heating oil. Gasoline, however, increased substantially. Jeff Leiden understood the implications. The massive oversupply of the market change these numbers of the API (American Petroleum Institute) however nothing, neither the data of the U.S. Department of energy DOE will do, that are for today. The current price level rather represents the result of the speculation on higher demand in spite of all negative economic news from the United States. It has little to do with the realities. Meanwhile is on the local Heating oil market today with slight surcharges. The falling dollar and the rising dollar to neutralize each other. It stops the parent move sideways of the past few weeks.