Today, the traders are happy to observe the oil market appreciation, which became possible due to statistics on the raw materials volume in the US oil storage. After carrying out all calculations, the analysts have announced that the rate of decline in oil reserves in the country exceeded the forecasts of experts last week. It should be noted that the effect of the decline in stocks has increased due to the fact that the most powerful pipeline in the North Sea water has reduced the pace of pumping raw materials for an indefinite period, which does not add optimism to oil traders.

As a result, by the beginning of the trading on the European sites, the contracts for the supply of the Brent Crude Oil have reached $ 63.87 per barrel, which means an increase of 0.53% compared to the Tuesday’s results. The USD WTI Light Crude Oil futures have been appreciated by 0.38%, gaining a foothold at $ 57.52.

Brent Crude (ICE)

WTI Crude Oil (Nymex)

The resumption of the work of the most loaded pipeline Forties (UK) has been postponed for three weeks, due to the need for repair work. It is thanks to it that oilmen pump raw materials from the North Sea oil and gas fields.

Unofficial API statistics show that the volume of raw materials in American storage decreased by 7.4 million barrels last week. Experts' forecasts have indicated that this figure will decrease only to the level of 3.8 million barrels.

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