Oil prices went down sharply


World market prices for oil declined on the basis of bidding at the leading oil exchanges on 19 June 2009. Official prices of oil futures next month of delivery were:
in London on InterContinental Exchange Futures – IPE e-Brent Crude Futures Electronic – 69,19 (-1,87) $ / barrel. in New York for the New York Mercantile Exchange – Light, Sweet Crude Oil – 69,55 ( -1.82) U.S. $ / bbl.
During the last day the price rose – the purchase of oil has been attributed to the fact that during the period 12-16 June, the price of oil futures declined more significantly than they have subsequently increased over the last two trading days (17 and 18 June), which technically allowed market participants to continue to enhance the game.
However, the main factor in the fall of the value of “black gold” was the information that stocks of gasoline had substantially increased over the past week in the United States.
It should be recalled that, as of June 12, stocks of gasoline in the United States rose to 3.4 million barrels for the week, exceeding the expectations of industry experts by nearly six times.


Oil prices went down sharply