The price of U.S. light crude went up and centered around 72 dollars a barrel during electronic trading today on the New York Petroleum Exchange, increasing for the first time in ten days. This gave rise to expectations that the data of the American Petroleum Institute, to be published today will show that U.S. stocks of raw energy decreased. U.S. is largest consumer of petroleum and petroleum products in the world, followed by China. The average forecast of analysts surveyed by Bloomberg, shows a decline in oil reserves of 2.75 million U.S. to 363.1 million barrels last week. Official figures of the American Petroleum Institute is expected before the end of today’s trading session in the U.S.. Price increase helped the successful auction of government securities of Spain, which was held yesterday, writes Bloomberg. The country sold 10-year government bonds for 6 billion euros, orders were submitted for 13 billion because of strong interest from investors. U.S. light crude for August delivery finished yesterday’s session with a fall in the price of 16 cents to 71.98 dollars a barrel. During the e-commerce Today it more expensive by 0.2 percent to 72.11 dollars a barrel. Since the beginning of this year its price has fallen by 9.2 per cent.
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The price of crude oil increased to near 81 dollars a barrel during electronic trading today in Asia, together with all the major stock indexes in the region. The price of energy input is about to celebrate third growth in the last four weeks, after having surged by 1.2 percent over the past five days. Reason for today’s rise in oil gave news that the Organization of Petroleum Exporting Countries (OPEC) will cut oil supplies by 2.3 percent within months, ending on March 20. Countries that are members of OPEC, the source of about 40% of global oil supplies. U.S. light crude for delivery in April, is rising by 60 cents, or 0.8 percent, to 80.81 dollars a barrel during electronic trading today on the New York oil exchange. By the end of the session on Thursday, oil futures fell by 66 cents to 82.21 dollars per barrel. Meanwhile, the price of Brent rose by 64 cents, or 0.8 percent, to 79.18 dollars per barrel in today’s times of electronic commerce in the international petroleum exchange in London. The April oil futures ended the session yesterday with a decrease in price by 0.9 percent to 78.54 dollars per barrel.
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