Commercial oil stocks declined by 1.262 million barrels in the United States
Commercial stockpiles of crude oil declined by 1.262 million barrels for the period from 5 to 12 June 2009 in the United States, says the report of the American Petroleum Institute (American Petroleum Institute, API). Reserves of heavy distillates grew by 881 thousand barrels.
According to the report of API, oil reserves of energy in the United States were characterized by the following week changes as of June 12:
- Crude oil: reserves fell by 1.262 million barrels and amounted to 356.634 million barrels;
- Gasoline: stocks rose by 2.140 million barrels, and amounted to 207.694 million barrels;
- Heavy distillates (fuel oil and diesel fuel): stocks rose by 881 thousand barrels and amounted to 151.545 million barrels.
Import of crude oil rose by 832 thousand barrels per day – up to 9.350 million barrels per day.
US stock market on July 16
Stock trades in the United States culminated with the decline of leading indices on June 16 2009. The conflicting data of macroeconomics, as well as disappointing corporate news warn investors that the long-awaited economic recovery will not come as soon as expected.
Even before the opening of the trading session, the U.S. Department of Commerce (US Department of Commerce) reported a sudden increase in construction of new homes. According to the data, this index increased by 17.2% – up to 532 thousand units in May compared with that of the previous month. This is significantly better than the expectations of analysts, which forecasted a growth of up to 500 thousand units, and it allowed bidders to forget about the recession for some time. Simultaneously, the Ministry of Labor of the States (US Department of Labor) reported that industrial prices (index PPI) of the United States increased by 0.2% in May 2009 compared to the previous month, while analysts had expected growth rate by 0.7%.
Retail sales in the US in May
The volume of retail sales in the United States grew by 0.5% in May 2009 compared with that of April and amounted to 339.99 billion dollars. Such data was released on Thursday, June 11, by the US Department of Commerce. Analysts had expected that this figure would increase by 0.6%.
In annual terms, retail sales in the United States decreased by 9.6% in May 2009.
According to revised data, the volume of retail sales decreased by 0.2% in April of this year.
Russia and the economic crisis
Russian foreign trade turnover in January-April 2009 decreased by 45.3% compared to that of the same period last year and amounted to $ 124.3 billion, says the message of the Federal Customs Service. Foreign trade turnover with foreign countries amounted to $ 106.3 billion (down 45.1%), and with the CIS countries – 18 billion (down 46.5%).
The trade balance was positive in the amount of $ 31.3 billion, which is $ 38.8 billion less than that in January-April 2008. In the trade with foreign countries the balance was equal to $ 24.7 billion (down 34 billion dollars), and with the CIS countries – 6.6 billion dollars (a decrease of 4.8 billion dollars). Export of the Russian Federation in January-April 2009 amounted to $ 77.8 billion as against that of January-April 2008 – a decrease by 47.7%, including export to foreign countries – $ 65.5 billion (down by 48, 1%), and the CIS countries – $ 12.3 billion (down by 45.4%).
