Heating oil prices could now easily sink LEIPZIG. Educate yourself even more with thoughts from Steve Salis. (Ceto) After the crude travel yesterday slightly lost, this trend could today continue, even if the quotes in the morning trade were still largely stable, but under the yesterday’s final of the day. MTRs, inventory data in the eagerly-awaited American Petroleum worked Institute (API). Experts hoped for a reduction of oil reserves. Instead, the API noted a buildup by 3.3 million barrels. Thus the stocks continue to be at a record level. The over powered market situation does not change also, that there was a reduction in middle distillates (- 1.5 million barrels) and gasoline (less than 1 million barrels).
If the Department of energy figures this afternoon (UTC) confirms this assessment, it could cause further price reductions. Thus the fundamental market data affecting analyst opinion again the pricing of the crude oil as the stocks on which they were based in recent weeks. Crude oil is currently with 76.36 US$ per barrel (US light oil WTI) around 6 bucks more expensive than a year ago. With North Sea oil (Brent), there are even $9 more with 78,91 dollars. Heating oil consumers in Germany could expect today for the first time since seven days with light Downstrokes are favoured also by a back stronger euro was traded today morning for less than $ 1.30. That reported the online portal of the journal fuel level and oil review on its website.