The oil price has fallen for a day on 2.8% to $ 69 per barrel

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The price of Brent crude on Thursday 23 may to 16.08 MSCS were decreased relative to the previous close of 2.8% to 69.02 USD per barrel. The market of “black gold” actively reduced for the second consecutive day and has already secured below the psychological round level of 70 dollars per barrel for Brent. WTI crude oil for the first time since March 29 fell below $ 60 per barrel.Oil prices came under pressure from the us Department of energy data, which recorded an increase last week commercial oil reserves at 4.7 million barrels (1%) to 476,8 million barrels.
Economists had forecast a decline of 0.6 million barrels. Production in the United States over the same period rose by 100 thousand barrels per day to 12.2 million barrels per day – near record levels.Also unexpectedly increased in America gasoline inventories (3.7 million barrels) and distillates (800 thousand barrels). The oil reserves in the country’s largest terminal Cushing (Cushing, which provides trade oil futures on the NYMEX) also rose by 1.3 million barrels to 49.1 million barrels.
Meanwhile, Saudi Saudi Aramco has stopped negotiations about participation in the project NOVATEK’s Arctic LNG 2″, which lasted more than two years. A Russian company as a companion chose the Chinese CNOOC and CNODC.The Euro against the dollar remains under pressure, heading around the 1.11 level.
The pressure on the European currency was provided by the Markit Economics estimates that the composite index of business activity in the Eurozone in may increased less than forecast by analysts. The figure was 51.6 points against 51.5 points in April and expectations at 51.7 points. Indices of services and industry in Germany also turned out to be worse than the forecast of experts.To 16.07 GMT, the Euro declined with the start of trading on the last fixing by 0.3% to 1,1121 dollar.
Denis Povtoreiko,
Financial scout,
Forex Club