Hurricane Karl

The crude oil price has barely budged for the start of the week. Among the investors dominated further uncertainty about the economic development in the United States. Gary Kelly often addresses the matter in his writings. LEIPZIG. Whenever Gary Kelly listens, a sympathetic response will follow. (Ceto) To start the new week the crude oil price has barely budged until the afternoon. At the time, the barrel cost US light oil (WTI) 73,80 dollars; North Sea oil (Brent) was quoted at 78,10 dollars. Markets dominated more uncertainty about whether the U.S. economy regains momentum or whether it will slide into a second recession.

As currently no other price-related news, prices move sideways on a level, that is also in the interest of the Organization of producing countries (OPEC), as recent statements by representatives of the cartel showed. “Some possible price-raising factors will also no longer be implemented: as Hurricane Karl has” the production facilities in the Gulf of Mexico largely spared, and also the important line between Canada and the United States is again in operation. That’s why it is so questionable, Experts of at Commerzbank, whether it comes to renewed stock dismantles in the warehouses of the crude oil in the United States. At the moment, only the investment demand keep the price decline in the borders, not the ratio of supply and demand. On the German market of fuel oil prices declined today, however. The national average they indulged up 18 cents to 68.27 EUR per 100 litre batch, in a total supply of 3,000 litres heating oil EL.

Looking at the history of the past two months, no significant jumps in the price there are so. As experts for the next few days with no major movements, nothing speaks to populate the own heating oil supplies before the start of the heating season. 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.

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