Oil prices fall on weak trading in Thanksgiving

Oil prices fall on weak trading in Thanksgiving Day

oil
quotes from the night before
showed a slight increase, but
Today for lunch again begin to fall.
In addition, the market for small customers
and sellers due to the fact that the US
Markets are closed today due to the celebration
Thanksgiving Day.

At New York
Mercantile Exchange, crude oil
WTI with delivery
?? in January to 15:20 MSK fell by 0.17% – up
at $ 42.97 per barrel and January
traded futures for Brent
at $ 45.77
a barrel (-0.88%).

On Wednesday
Energy Information Administration
US reported that crude oil inventories in
the country increased by 961 thousand. barrels
Last week, though a day earlier
The American Petroleum Institute said on
increase production at 2.6 million barrels. Data
also showed that the US manufacturing
crude oil fell by 17 thousand. barrels
day – up to 9.165 million barrels, compared
the previous week, when it was 9.173 million
barrels. "This is not enough,
to balance the US market, not
let alone the global market"-
said Timothy Evans, energy
an analyst at Citi.

The number of active
US oil rigs
It decreased by nine in the last
week – up to 555 units, according to oilfield
company Baker Hughes. Reduced working
oil rigs – it is a signal that the price
at current levels eventually
will lead to a drop in oil shale extraction
Oil in the US, said analyst ANZ. That
However, prices also remain under pressure
OPEC meeting next week, which
still it continues to pump more than 30 million
barrels per day, despite the
own plans and arrangements
inside the poster. "The message is clear – OPEC
will cut production alone. it
seriously will pressure on prices, if not
no change in the quotas for the following
week, because Iran will be released on
market early next year and
proposal to increase further"-
Stewart says Yves, the manager of OM
Financial.

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