empty
22.10.2020 01:40 PM
Growth in gasoline reserves immediately caused negative trend in the oil market

This image is no longer relevant

The price of black gold is again moving in the opposite direction on Thursday morning, which was provided by statistics on the level of raw material reserves in the US. Official data from the Department of Energy rather disappointed market participants, as it reflected an increase in gasoline reserves in the country.

According to a report presented by the US Department of Energy, the level of gasoline reserves increased by 1.9 million barrels last week, which ended October 16. This is contrary to the expected reduction of about 1.6 million barrels in the initial data. American Petroleum Institute (API) also expected it to fall by 1.6 million barrels. The real situation is very different from what analysts had suggested, and this seriously affects the mood of investors.

Meanwhile, the same conclusions were drawn that the demand for gasoline in the US for the previous week fell by 290,000 barrels per day, which forced it to move to its minimum levels recorded at the beginning of this summer. Thus, this figure is now 8.29 million barrels per day.

Most of the market participants were unbalanced by data on the growth of gasoline reserves, which unexpectedly showed a negative trend. In addition, they are the most reliable indicator that the consequences of the second wave of coronavirus infection were still much more significant than it was in the spring.

At the same time, the US Department of Energy confirmed that the total amount of crude oil reserves in the country decreased by 1 million barrels. However, this was not enough to lift the mood of market participants.

Investors are particularly stressed by the news from Libya, which recently started talking about actively restoring black gold production in spite of the agreement with OPEC. According to official data announced by the Deputy Prime Minister, oil production has increased to 500,000 barrels per day, and by the end of this month, it is expected to increase to 550,000 - 560,000 barrels per day. In addition, the market is particularly saddened by the fact that Libya plans to increase production to the level of 1 million barrels per day by the end of this year.

The price of futures contracts for Brent crude oil for December delivery on the trading floor in London fell 0.48% or $0.2, which sent it to $41.53 per barrel. Wednesday's trading ended with a rapid that unsettled the work of most investors. At the closing of trading, it lost 3.3% or $1.43.

The price of futures contracts for WTI crude oil for delivery in December on the electronic trading floor in New York also sank 0.57% or $0.23, which sent it to $39.80 per barrel. Wednesday's trading ended with a global decline of 4% or $1.67.

Maria Shablon,
Experto analítico de InstaForex
© 2007-2025
Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Trump pensará si vale la pena bombardear Irán: los mercados respiran, el dólar cae

La tensión geopolítica que mantuvo a los mercados en vilo toda la semana finalmente se debilitó, al menos por un tiempo. Donald Trump declaró que se tomará dos semanas para

Аlena Ivannitskaya 08:06 2025-06-20 UTC+2

Tres golpes al mercado: Trump abandona la cumbre del G7, EE.UU. logra acuerdo solo con Reino Unido, el Banco de Japón mantiene las tasas

El martes por la mañana la atención del mercado de divisas se centra en tres acontecimientos, cada uno de los cuales puede alterar el equilibrio de fuerzas. El presidente

Аlena Ivannitskaya 08:31 2025-06-17 UTC+2

Contrastes del día: Nikkei al alza, el euro a la baja, el mundo contiene la respiración ante las negociaciones entre EE.UU. y China

J.M. Smucker cae tras un pronóstico pesimista, El Banco Mundial reduce el pronóstico de crecimiento global para 2025 El Nikkei sube, los futuros de Wall Street y el euro caen

07:54 2025-06-11 UTC+2

Trump vuelve a influir en Wall Street: la reacción de los índices no se hizo esperar

Los comentarios de Trump sobre China provocan una negociación inestable en el mercado Ulta Beauty sube tras elevar su previsión de beneficios anuales El Dow subió un 0,1%, el S&P

09:00 2025-06-02 UTC+2

Tormenta bursátil: Nvidia se dispara, el Dow cae y el tribunal anula los aranceles de Trump

Las acciones de Nvidia subieron un 5% tras el cierre; las acciones de Dick's Sporting Goods aumentaron tras superar las expectativas del primer trimestre El tribunal de comercio

11:01 2025-05-29 UTC+2

Juicio contra Trump: los aranceles fueron declarados ilegales. ¿Qué significa todo esto para los mercados?

Un fallo judicial inesperado y toda la arquitectura de la política arancelaria de Donald Trump comenzó a desmoronarse como un castillo de naipes. El Tribunal de Comercio Internacional

Аlena Ivannitskaya 11:00 2025-05-29 UTC+2

«El efecto Nvidia»: ¿aguantarán los mercados la última ola de presión?

Los resultados de Nvidia se publicarán el miércoles, los últimos de los ingresos de los "Magnificent 7". Donald Trump y los mercados europeos han vuelto al punto de partida

11:08 2025-05-26 UTC+2

La tecnología en auge: Snowflake y Alphabet brillan mientras cae el sector solar

Dow y S&P 500 terminaron la jornada sin cambios, mientras que el Nasdaq subió un 0,28%. Snowflake se disparó. Alphabet alcanzó su nivel más alto en casi tres meses

11:26 2025-05-23 UTC+2

Israel, Irán y el barril del miedo: el petróleo vuelve a subir

Durante la sesión asiática del miércoles por la mañana, el petróleo subió repentinamente un 1,5% gracias a las noticias procedentes de Oriente Medio. Las sospechas de un posible ataque

Natalia Andreeva 11:03 2025-05-21 UTC+2

El Bitcoin no teme los problemas de calificación crediticia de EE. UU. y sigue apuntando al alza. Los índices S&P 500 y Nasdaq100 también

La primera criptomoneda intenta mantener un nivel alto, aunque no siempre lo consigue. No obstante, el Bitcoin casi se ha consolidado en una posición de liderazgo, a pesar

Larisa Kolesnikova 11:03 2025-05-21 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.