Petroleum prices for the last five trading sessions have fallen for the first time
The prices for petroleum futures for terminal markets on May, 5th the first time for the last five sessions have gone down. For petroleum contracts of the nearest поставочного month results of the auctions at exchanges have constituted:
- In New York on New York Mercantile Exchange (NYMEX) the official price of future Light, Sweet Crude Oil has fallen (June) on 63 cents (-1,2 %) and was established on a mark 53,84 dollars/barr. At the prices under bargains for session 53,50-54,83 dollars/barr.;
- In London on InterContinental Exchange Futures Europe (IСE Futures Europe) the official price of future IPE Brent Crude has gone down (June) on 46 cents (-0,8 %) and was established on a mark 54,12 dollars/barr. At the prices under bargains for session 53,64-54,91 dollars/barr.
Petroleum prices following the results of the auctions essentially were not changed on May, 5th. Negative dynamics in the prices under bargains has been caused by technical sales of petroleum futures which for the previous four sessions have considerably risen in price. We will remind that for the previous four business days of a petroleum price have grown more than on 9 %, and following the results of the auctions above a mark 54 dollars/barr on May, 4th were established. Also have reached the high level more than for five months that has weakened interest to the further purchases.
Decrease petroleum prices also was promoted on May, 5th by the information about record for the last 19 years commercial stocks of a crudeoil in the USA formed as a result of reduction of demand for energy carriers. Thus pressure upon the market rendered that expectation that accumulation process in the world of surplus of industrial stocks of petroleum will be to proceed, most likely, before the termination of a current year.
Against fall in oil prices the basic petroleum also have a little fallen in price on May, 5th. So, the price of petrol RBOB on NYMEX has decreased on 0,9 %, and the price of top internal black oil – on 0,6 %.
The price of petroleum Brent has gone down on May, 5th more essentially, than the price of petroleum WTI. In result, price spread Brent/WTI has increased to plus of 28 cents against plus of 11 cents in the afternoon before. We will remind that unnatural for the market the positive price difference between petroleum standards Brent and WTI was formed by results of the auctions on May, 4th.
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