Crude prices are trading at slight increases this morning, Wednesday, the third of March, before the opening of European markets, after declines for three consecutive sessions. Markets, that the organization begins the process of reducing production by 1.5 million barrels per day, starting next April. Meanwhile, the American Petroleum Institute data released on Tuesday showed an increase in US crude stocks by 7.4 million barrels last week, ending on February 26, compared to estimates that indicated a decline by 728 thousand barrels. In the details, gasoline stocks decreased by 9.9 million barrels, while stocks of fattening products, which include heating fuels and diesel, decreased by 9.1 million barrels. Markets are awaiting this evening, Wednesday, a report by the US Energy Information Administration to disclose official data on US crude stocks, amid expectations that stocks will rise by 1.3 million barrels. Brent crude is trading at 62.91 dollars a barrel, up about 0.33 percent, after losing about 1.5 percent at the close of the session on Tuesday at 62.70 dollars a barrel. While US crude is trading at levels of $ 59.90 a barrel, up about 0.25 percent, after closing the session yesterday at levels of $ 59.75, down by 1.4 percent.
07/11/2024
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