Brent dips below psychological threshold of $30 per barrel


With the U.S. Department of Energy claiming growth of raw material stocks, crude oil prices sped up the decline: North Sea Brent crude was traded below its psychological mark of $30 a barrel for the first time since February 2004.

As reported by Censor.NET referring to Prime, this is evidenced by auction figures.

As of 10:31 p.m. MSK, March futures price of North Sea Brent crude decreased by 2.23 percent down to $30.26 per barrel. Previously, it had dipped below $30 down to $29.95 per barrel for the first time since February 2004. February futures price of WTI crude rose by 0.08 percent to reach $30.46 per barrel.

According to the U.S. Department of Energy, U.S. commercial oil stocks (excluding strategic reserves) increased by 0.2 million barrels to 482.6 million barrels during the week which ended Jan. 8. The analysts believed the figure would reach 2.504 million barrels to make 484.804 million barrels in total.

Oil production in the U.S., the department says, increased by 0.08 percent last week, or 8,000 barrels per day to 9.227 million barrels per day. The country's oil reserves stocked at the largest terminal in Cushing, Oklahoma, has increased by 0.1 million barrels up to 64 million barrels per day.

Read more: Low oil prices might last for decades, - Russian Economic Development Minister Ulyukayev
Источник: https://censor.net.ua/en/n368952