Analysts explain the currently still high price structure further with the weak dollar, animates the investors to put their money in supposedly safe investments such as commodities. LEIPZIG. (Ceto) Crude oil prices have shown today fluctuating at a high level. In the afternoon, the barrel cost $83.50 US light oil (WTI), North Sea oil (Brent) amounted to over $85. Prices had earlier tested resistance, were bounced back but still on them. Analysts explain the currently still high price structure further with the weak dollar, animates the investors to put their money in supposedly safe investments such as commodities.
In addition to gold, the focus is heavily on crude oil. As a result, that the contracts are more expensive. Even the high US inventory figures, which are clearly above the long-term average and document the low physical demand on oil, seem at the moment not being able to stop the trend. The crude oil inventories have risen even more, because some refineries for maintenance were less busy. That’s why Gasoline inventories declined at the same time. The question showed decline for oil products.
Given the price developments had recently also OPEC representatives on the increasing gap between oil prices and fundamental data. To what extent that leads to a change of the rate of petroleum exporting countries, is open. Meanwhile, it benefits the local heating oil consumers, the strong euro to compensate the high crude oil prices, at least to the part. While crude oil and gas oil prices drew within one week to nine percent, fuel oil prices increased almost three percent, points out esyoil expert Klaus Bergmann. According to the survey of fuel level and oil Rundschau, there was virtually no movement on the market in the Federal average. The price for the game of 100 litres heating oil EL (total delivery: 3,000 litres) remained at 68,67 euro. Market observers expect further deferred the heating oil inflation of price, as long as the dollar continues to lose ground against the euro. Therefore, customers should fill their tanks as soon as possible, Make sure to go. 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.