Crude oil despite record inventories in the United States more expensive LEIPZIG. (Ceto) The price of crude oil has overcome his 11-week low and climbed further upwards until the afternoon. The barrel of US light oil (WTI) grew in the course of the day XX cents and was quoted at more than XX, XX dollars. This of course benefited from somewhat more stable stock markets and the stronger euro; also, the data from the US labor market were a little better than expected. Also, a technical rebound movement favored the rise in prices.
This development may yet surprise given the U.S. inventories be new records. Due to the weak demand, inventories of gasoline and distillates are at its highest level since the 1980s. “Sounds almost already fatalistic statement a New York merchant, the futures industry services quoted: the oversupply is currently so extreme that a few more drop in the vast sea of oil” would fall not more particularly in the weight. However, speculators on the commodity exchanges, which ensure push apparently again increasingly wishing that their recently made profits rise. After crude oil prices had already yesterday, it came to light spreads also expected in the local oil market. 100 liters of heating oil EL cost 66.12 euro in the national average. These are 53 cents more than yesterday, but still less than the previous monthly average of 66,88 euros.
Inflation moves today so in order to, as the rising euro exchange rate bounces off the whole thing. The order mood at the customer holds, however, still within limits. However, experts advise to use the moderate price level and to fill up the fuel oil tanks before possibly a pent-up demand with latency in the autumn. That reported the online portal of the journal fuel level and oil review on its website.