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The oil price increases
During the day, oil was trading with restraint, while showing gradual decline. But the price of oil rose sharply and suddenly, after data from the U.S. Department of Energy showed that the level of reserves fell last week, more than expected.
Inventory levels dropped to the level of 3700000 barrels to 366.2 million over seven to 10 August. According to the forecast decline was up 1.5 million barrels.
Gasoline stocks fell by 2370000 barrels to 203.7 million level, exceeding the forecast for this at 2 million barrels.
Inventories of distillates, which include heating oil and diesel, rose by 677,000 to a value of 124.2 million, compared with a forecast for a decline of 275,000.
Oil is also added to the cost, as the report showed that industrial production in the U.S. rose in July by 0.6%, after rising by 0.1% in June on fears that the tensions in the Middle East will cause a failure of supply.
The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now at $ 93.70 a barrel.
September futures price for North Sea Brent crude oil mixture is now $ 115.18 a barrel on the ICE Futures Europe Exchange.
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