Prices of oil futures changed insignificantly

Prices of oil futures on the stock exchanges in New York and London with the beginning of this week have changed insignificantly. Results of the trades on the exchanges for oil contracts, the first entry on Sept. 27 were as follows:
- New York Mercantile Exchange on an urgent New York Mercantile Exchange (NYMEX) the official price of the futures Light, Sweet Crude Oil (November) symbolically rose by 3 cents and set at around 76.52 dollars per barrel. with a range of prices for transactions during the session 75,52-77,17 per barrel.;
- In London on an electronic commodities exchange InterContinental Exchange Futures Europe (ICE Futures Europe) official price of the futures IPE Brent Crude (November) fell by 30 cents (-0.4%) and set at around 78.57 dollars per barrel. with a range of prices for transactions during the session 77,60-79,20 per barrel.

Opposite changes in prices for active contracts were due to unnatural preservation of the positive price difference between oil benchmarks Brent and WTI, which is technically ensured a weak increase in the official price of the futures Light Sweet. Meanwhile, the overall market condition characterized by low activity and a weakening demand for oil futures by a lack of strong fundamentals and the decline in the leading stock indexes in the U.S. and Europe.

Pressure on the oil market on September 27 also helped out weekly increase in U.S. inventories of crude oil and energy derivatives. On the eve of industry experts predicted that as of September 24, commercial crude oil inventories in the U.S. could rise for the week by 2,0-2,2 million barrels., Gasoline stocks at the same time could grow to 800-900 thousand barrels per day., and heavy distillate stocks - by 40-500 thousand barrels.

At the same time, some support for the oil market has had on the eve of a cheap dollar, kept the oil prices from a substantial reduction. Thus, an indicator of the market Forex, reflecting changes in U.S. dollar concerning "basket" of six leading world currencies, Dollar Index (spot) on September 27 has slightly decreased, and sank to its lowest level since early February 2010. - 79.338 points.

Recall last week's oil on the stock exchanges rose in price three times - 20, 23 and 24 September. In general, for the past week the official price of WTI crude oil rose by 2.83 dollars per barrel., Or 3,8%, and the barrel of Brent crude rose by 66 cents, or 0.8%. Including the results of bidding on September 24 WTI oil price has reached its maximum value for the first nine trading days - to $ 76.49 per barrel. And the price of crude oil Brent - the maximum for the four trading days - to $ 78.87 per barrel.