Development contrary to the actual market situation in LEIPZIG. (Ceto) Crude oil prices could put today slightly towards their yesterday’s gains. Investors saw quite positive trends in some U.S. economic news, although the market is still oversupplied. For heating oil consumers in Germany, this development brought charges to the third day in a row.
It went yesterday made gains today with the crude oil prices on the commodity futures exchanges further uphill. Reason was the rising stock markets and US economic news, which have been interpreted positively by investors. So, the number of first-time applications declined by 27,000 to 451,000 on unemployment benefits. 470,000 new claims were expected. And the American trade balance posted a deficit of 42.8 billion dollars for July.
The positive of this message is only to realize, if you know that experts expected a fall of 47.2 dollars. At the same time, there were from Europe to hear little rants. Including sales of the manufacturing sector is in Like Germany in July by 0.9 percent compared to the previous month. Only the successful placement of Portuguese Government bonds provided really good news from the EU. All of this suggests that the crude oil prices of the fundamental market data have detached themselves. Investors now expect the data of the Department of energy to the crude oil reserves in the United States and expect a similar high reduction of which, like this yesterday was estimated by the American Petroleum Institute. That, in turn, it is hoped of the market participants, could stimulate the demand. Whether this actually happens in the face of the record reserves, there is little doubt now not only by knowledgeable analysts. This development brought little rants about for heating oil customers in Germany. On the third day in a row the local, namely by 17 cents to 68,57 Euro 100-liter contour prices fuel oil (EL) (Federal average for a total quantity of 3,000 litres). The increase was not quite as strong thanks to a back stronger euros as of the Crude oil prices given above. For comparison: a year ago, the same amount of heating oil cost 55.38 euros, in 2008 there were 85.09 euro. It reported the online portal of the journal fuel levels and petroleum review. The graphics on the energy Portal show the development of the domestic fuel oil prices in the national average, and in the individual federal States in the section of market data. Regional deviations are possible due to the market at any time.