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Crude Oil falls two weeks, extending losses due to oversupply
10.27.2015
Follow-up - the balance of News
Crude prices fell again to continue under pressure after two consecutive weeks of losses on fears of worsening of the supply glut in petroleum products due to warm weather, unusually for this time of year and the end of the maintenance cycle of American refineries refining.
Goldman Sachs warned of the decline in oil prices until the spring of 2016 with the approach of the US and European stocks of distillates of high historical levels.
Traders reported that with refined petroleum products storage tank is full, the diesel and jet fuel shipments unwanted change its destination outside the European ports and take longer routes and slower around the southern tip of the African continent.
Said Dave Thompson of Powerhouse brokerage based in Washington, "There is talk in the market for diesel filling warehouses and low-sulfur crude that pays for the decline."
And determine the settlement price for Brent crude global measurement down 45 cents, equivalent to about one percent to $ 47.54 a barrel. US crude was down 62 cents or 1.4 percent at $ 43.98.
Van and lost about ten percent over the Alojerin.anthy 29 quarters e weeks
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