American Petroleum Institute
Equal to a whole number of factors responsible for the current downward trend in the crude oil of LEIPZIG. (Ceto) The price of crude oil has fallen today. Until deadline in the afternoon slid the barrel price below the mark of 72 dollars. In this case analysts in the rest of the day facing massive connection sales, what should continue to press the quotes. Equal to a whole number of factors responsible for the current downtrend. Already in the morning, weak equity markets led to gloomy mood in the trade. The prospects for economic recovery and growth in demand remain bad.
Furthermore, experts expect that the US inventory data, weekly by the American Petroleum Institute (API) and are published by the DOE’s energy authority, identify further growth. The news of the weather front do not support crude prices. So the hurricane Danielle “apparently no danger for the production facilities in the Gulf of Mexico represents. Who puts his hope in the heating season, could be disappointed, says Commerzbank analyst Eugen Weinberg, relying on U.S. weather services. Thus the autumn should be warmer in the United States than normal. This has implications for the need for heating. According to the demand should be compared year 29 percent lower than the previous year between December and February.
Meanwhile, heating oil trading in Germany granted more discounts its customers. Due to the market developments, local heating oil in the U.S. average was 36 cents cheaper. The price for a game of 100 litres heating oil EL (total delivery quantity: 3,000 litres) is thus 65.74 euros. The level offers consumers the opportunity to replenish their inventories before the fall relatively cheap: last year cost the same amount of fuel oil while only, on August 24, 2008 was 58.06 euro 88,04 euro however significantly more expensive. The graphics on the energy Portal show the development of the domestic fuel oil prices in the national average, and in the individual federal States in the section of market data. Regional differences are due to the market possible at any time.