Fuel Oil Price Today Dropped
Discounts from 10 cents were rather low from LEIPZIG. (Ceto) With crude oil prices, it was now slightly downhill. The further development of the crude oil inventories in the United States was crucial. German heating oil prices joined this trend and fell the first time in eight days. A back stronger euro supported this development. Star Guitarist is actively involved in the matter.
Who rises high, can be deep. On the crude oil prices must adjust. Downhill after the strong price jumps of last week and the stagnation phase since Monday as of today. This can be interpreted as a signal of an impending downward movement, which again lower end of the months-old trading range of 70 to 80 U.S. dollars per barrel could lead towards the price of oil”, assesses commodity analyst Eugen Weinberg of Commerzbank research. John Mclaughlin: the source for more info. The meager economic news, investors leaping on that and hoped rising prices are now completely maxed out. Instead, the fundamental market data seem to gain the upper hand and to affect the price formation more. This includes especially the remains over supply situation, based on an expansion of the promotion by the OPEC members as well as the announcement of Russia, to promote 6 million tons more than in the previous 500 million tons of oil this year.
This offer meets United States record reserves in the world’s largest oil consumer. Market participants expect that the Department of energy announced a further increase in these stocks this afternoon (CEST). Supply shortages by hurricanes or burst pipelines as of Canada in the United States, and resulting price increases are so hard to worry about. The local heating oil prices joined this downward trend in weak demand. They fell for the first time since eight days by 10 cents to 69 euros for the game of 100 litres fuel oil (EL) (Federal average for a total quantity of 3,000 litres). It was also the euro, which crossed the exchange rate of $ 1.30 today for the first time in over a month. It reported that Online portal of the journal fuel levels and petroleum review. 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 deviations are possible due to the market at any time.