Oil prices ended lower Friday in London, despite some brief forays into the green after a week in which their decline has been almost continuous.
Oil prices ended lower Friday in London, despite some brief forays into the green after a week in which their decline has been almost continuous.
A barrel of Brent North Sea crude for February delivery was worth 36.97 dollars on the Intercontinental Exchange (ICE) in London, down 9 cents from Thursday's close. On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" (WTI) for the same maturity lost 10 cents to 34.85 dollars.
"With prices at their lowest in six years, any attempt to rebound is more superficial than the last, with a little 'suggesting that we could see prices decline further to $ 30 a barrel in the short to medium term," he noted Michael Hewson, analyst at CMC Markets. "First in midweek, are statistics on oil reserves in the United States who have come to weaken this increase began last Monday," jurisdiction Saxo Bank analysts.
US weekly crude stocks have indeed strongly consolidated in the week ended Dec. 11, rising by 4.8 million barrels while analysts had expected a drop of 1.5 million barrels. Furthermore, following the decision Wednesday by the US Federal Reserve (Fed) to raise interest rates for the first time since 2006, "the euro fell back ground against the dollar, which makes crude oil (denominated in greenbacks ) less attractive to investors who own other currencies, "said analysts at Saxo Bank.
For his part, Mr. Hewson estimated that Washington's decision to lift the ban for 40 years on the export of oil to the United States, which was formalized Friday at the end they do nothing to support prices in a market where the ' offer is superabundant.
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