The cost of oil continues to grow on Wednesday afternoon, investors expect data to the US Mainnergo on the stocks of raw materials in the country, evidence of trading data.
As of now, the price of June futures at the North Core oil mixture Brent grew by 0.99%, to 63.35 US dollars, and the May futures on WTI – 0.91%, to 59.86 US dollars for barrel.
Previously, the data of the American Oil Institute (API) showed that oil reserves in the United States decreased by 2.62 million barrels. The official data of the US Ministry of Energy will be published in the evening on Wednesday. Analysts believe that the Office will report a decrease in reserves in the country by 1.44 million barrels.
Analysts at the same time note the outlining stability of the price range of 60-65 US dollars per barrel Brent.
“In general, it seems that oil has reached a range from 60 to 65 US dollars, which will probably continue for a while. The prospect of increasing OPEC mining should be satisfied with the corresponding growth in demand,” said Saxo Bank Ole Raw Strategy Hansen (Ole Hansen).