Texas oil barrel ends at US$ 99,40 barrel

posted on: Jan 26 2012 10:3 by RDugey. Viewed 16 times.


Oil prices ended in upward on Wednesday in New York, since the Federal Reserve (Bank Fed) report that it will keep the interest rates of reference in almost non-existent levels until the end of 2014, which encourages investors to dump into the raw materials to obtain higher yields.

Barrel of "light sweet crude" (WTI) for March delivery gained 45 cents with respect at the close on Tuesday, to 99,40 dollars on the New York Mercantile Exchange.

In London, a barrel of Brent North Sea for March ended at 109,81 dollars on the Intercontinental Exchange (ICE), a decrease of 22 cents.

"People are wondering where to invest your money and say 'if I put it in the Bank, will not have any return', therefore look elsewhere", said Andy Lipow, of Lipow Oil Associates.

The rise occurred despite a surprise increase in us reserves of crude oil announced this u000aWednesday.

Crude oil stocks rose strongly in United States last week, widely surpassing forecasts of the market, according to figures published Wednesday by the Department of energy (DoE).

Oil reserves rose 3.6 million barrels (mdb) the week ending January 20, to be located in 334,8 mdb. Analysts interviewed by Dow Jones Newswires agency betting on a rise of 700,000 barrels.

"There is more oil supply with the rise of Libyan exports and Iraqi, and therefore the prices are under pressure," explained Lipow.

Also, particularly soft in United States winter weighs on fees, noted analysts from Barclays Capital.