Wednesday, 18 May 2011 14:15

First half of May – price goes up

The crude oil prices had a bad start this month. For almost two weeks prices went lower then 96$ and the fall assumed to go on. But this week the value seem to change. A small “recovery” happened.

Today the prices reached 98$ per barrel again.

However, the growth is more slower, than in April. In addition, the dollar remains weak. This growth has been expected to come in June, but the increase of 1.22$ brought the price to 98.13$.

During the last days, the US took advantage of the low prices and filled it's crude oil stocks with 2.8 million barrels and the gasoline stocks with 676 000 barrels. For the next days it's expected that the inventories will move up by 1 million barrels, during gasoline by 1.30 million barrels.



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