Wednesday, 29 June 2011 13:57

The End of IEA's Saving Plan

The shock after IEA's plan with the release of 30 million of emergency barrels to change the crude prices last week, it's over. Although Brent reached on Monday barely the $100 per barrel, the situation seems to return to “normal”.

After the little course change in the last days, the US dollar dropped back and Greece is on the way to accept the European help-program and to recover from the crisis. And of course, the prices of crude oil are raising again. With a recover of almost 1,32%, a barrel of WTI costs $94,12. Brent raised up 1,56%, which means $110,50 per barrel.

However, in the next day's a tropical storm is awaited in the Gulf of Mexico. The oil plants may be spared, although they will be closed during the insecure weather.

This incident should not influence the oil demand and consumption of the US, experts said.