The price of oil go to the highest level in the last three years

The price of oil the major brands is growing on Tuesday on the background information about the possible reduction of fuel reserves in the United States. The March futures for Brent crude on London’s ICE Futures exchange rose to $ 67,86 per barrel, while the price of WTI crude oil for March on the new York Mercantile exchange (NYMEX) reached $ 62,03 per barrel.

And in the course of trading Brent grew up to $ 68,10, and WTI to $ 62,10. These figures are the highest since may 2015. “Oil prices remain on an upward trajectory,” – said Commerzbank analyst Carsten Fritsch. But the Executive Director of Statoil, Eldar Sætre said that vibrations will not disappear, but in the long run prices will rise.

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The American petroleum Institute, which obtains information on fuel supplies from operators of refineries, oil storage tanks and pipelines on a voluntary basis, publish the report in a few hours. Experts predict the reduction of oil reserves in the United States by 4.1 million barrels. If this is confirmed, the downward trend in stocks will continue for the eighth consecutive week. Meanwhile, analysts BOCI Securities Ltd. has raised its forecast for Brent crude prices and now expect in the first quarter it will cost an average of $ 62 per barrel, in the second and third quarter of $ 64 per barrel in the fourth quarter will fall to $ 60 per barrel. For WTI predictions to $ 59, $ 61 and $ 57 per barrel.

The price of oil go to the highest level in the last three years

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