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%.
The possibility of Opel bankruptcy is still there
The possibility of the bankruptcy of the German automaker Opel is still there. This statement was made by the Minister of Economy of Germany Gutenberg. “All of this can still happen” – he said. Previously, Karl-Theodor zu Gutenberg has repeatedly stated that the acquisition of the German automaker Opel by Magna International Inc. carries many risks, and bankruptcy may still be the best solution for this auto concern. On 30 May 2009, the German government reached an agreement with the American auto concern General Motors and the Canadian company Magna International, serving in partnership with the Sberbank of Russia on the salvation of the German automaker Opel.
The price of gold has fallen to its minimum on COMEX
The price of gold on the Stock Exchange of New York (COMEX) fell to its lowest level over the past three weeks and settled on the basis of trades below U.S. $ 930 per ounce on June 15. Thus, the official price of gold on COMEX in relation to its active futures (August) became 927.5 U.S. dollars per ounce, which is the minimum figure since 18 May of this year. The price of gold transactions settled in the range 926.5 to 940.3 USD per ounce.
Troy ounce of gold became cheaper by U.S. $ 13.2 on COMEX on June 15, and it resulted to the fact that the official price of gold fell by a further 1.4% on the market. Reducing the price of gold was due to a visible strengthening of the dollar in world currency market. Dollar Index (spot), reflecting the change of exchange rate of the American dollar to the “basket” of six leading world currencies, rose by 1% for the first time in the past three weeks on June 15, which exceeded the point 81.
