NEW YORK – Crude oil prices closed up sharply again perched on the level of USD72 per barrel, in trading Wednesday (16/12/2009) local time, after the government of the United States (U.S.) announced the decline in the supply of oil and petroleum products. The decline was lower than analysts expected.
As quoted by Assosiated Press, Thursday (17/12/2009), the reference price of oil for January delivery contract rose $ 1, 97 or almost jumped three percent to USD72, 66 per barrel on the New York Mercantile Exchange (NYMEX). While in London, the price of Brent oil for January delivery contract rose $ 1, 5 to USD73, 55 per barrel on the ICE Futures.

In its report The Energy Information Administration said oil supplies fell 3.7 million barrels last week and destilated fuels including liquid oil fell 2.9 million barrels. The analysts expect before, is only a moderate reduction of two million barrels for oil and 750 thousand barrels of fuel destilated.

A number of oil refineries to the oil extraction step with respect to the end of the year to avoid higher taxes. But the oil supply fell due to a lack of good temperature in the Southwest and Northeast.

For information, world crude oil prices managed to rise above $ 70 level, in trading Tuesday (15/12/2009) yesterday, as the statement of major countries producing oil incorporated in the OPEC, predicts that demand for fuel will rise. The price of oil for January delivery contract was up $ 1, 18 to 70, 69 per barrel on the New York Mercantile Exchange (NYMEX). While in London, the price of Brent oil rose 16 cents to U.S. $ USD72, 05 per barrel on the ICE Futures.

As reported, that the Organization of the Petroleum Exporting Countries (OPEC) said global demand for fuel increased to 70 thousand barrels per day. This is higher than previous estimates. Similar declared the International Energy Agency last week.