After a sharp rise associated with the reduction in the number of drilling rigs in the United States, oil prices continued to drop down trend.
This writes the “Prime” with reference to the auction.
As at 7.35 Moscow time the March futures price for North Sea Brent blend fell to 51.66 dollars per barrel. fell by 2.51% with respect to the closing prices of the market.
March futures price for WTI crude oil fell by 2.53% – up to 47.02 dollars per barrel.
Want. recall that on Friday, Baker Hughes reported that the total number of oil rigs decreased in the last week by 90 to 1,543 thousand – the lowest level since June 2010. As a result, the price of oil has increased by more than 6% entering Friday’s trading.
Investment analyst at Phillip Futures in Singapore Daniel Ang told the news agency France-Presse, that the price changes were speculative.
“It is unlikely that oil prices will come out of the (current) range without a fundamental change, so the sharp increase in value on Friday was separate,” – said the analyst.
He noted that prices continued to strengthen as the market tries to adjust supply and demand.
Also decline in oil prices contribute to strike of metallurgy union , which includes more 200 refinery workers throughout the US, as well as terminals, pipelines and chemical plants in the country.
The strike will lead to increasing the number of crude. Closed refinery can produce up to 1.82 million of fuel per day – about 10% of the total production in the United States.
January 30, world oil prices jumped more than 6% after the fall of the number of drilling rigs in the United States to a minimum of five years.