Weak targets from America and Asia allow stock markets and crude oil prices sink LEIPZIG. (Ceto) Crude oil prices were now barely moves. Missing economic stimulus, fears of a U.S. recession as well as a continued over supply market situation led to caution investors. Heating oil consumers in Germany could look forward, however, for the first time since three days of falling prices.
The U.S. economy does not get out of the headlines. On the horizon of the world’s biggest consumer the first recession clouds slowly. One of the messages, which today startled investors: the Department of energy (DOE) lowered its forecast for daily oil demand. It is 48,000 barrels per day lower now 19,291 barrels.
This is more than during the crisis years 2009 and 2009, but still far below the required quantities previously, as the daily consumption was more than 20 million barrels. This was accompanied by growing stocks go. Analysts expect that the American Petroleum Institute (API) today a further inventory build-up to 1.3 million barrels reported for the past week. That would be the highest value since weekly records began in 1990. “” Even the hurricanes seem to spare the conveyor systems in the Gulf of Mexico, according to Earl”now Danielle”and Fiona”, so in any case, an assessment of the National Hurricane Center. This would encourage a further inventory build-up and thus cement over supply situation on the market. Due to this development, the crude oil prices showed today barely moves and lost in the afternoon easily compared to yesterday’s day finally. German heating oil consumer this brought the first price reductions to the end of the month for three days with. 100 litres in a total quantity of 3,000 litres heating oil EL paid for today the national average with 67,16 euro 19 cents to less than yesterday. In the monthly average August, crude oil cost 66,86 euro. For comparison: In August 2009, the same amount cost average 57,52 EUR. in 2008, there were exactly 87,00 euro. It reported the online portal of the fuel level magazine 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.