Rising crude oil prices LEIPZIG also provide increased costs in this country. (Ceto) Crude oil prices further expanded their gains at the beginning of the week. In addition to positive economic data from China and European exchanges were good mood among investors. For heating oil consumers in Germany brought this back premiums to? now 6 day in Folge.Die crude oil prices, also today again only one direction knew upwards. Compared with the end of the day Friday both reference types to around a US dollar per barrel grew and reached the highest value since about a month. There are several reasons for the sustained price increases. Stock exchanges in Asia and Europe today, as already on Friday, shot firmly into the plus and moved the oil prices.
Support was also that a large import pipeline, providing daily 670,000 barrels of Canada in the United States is currently closed so that there could be shortages in the US light oil places WTI. Moreover, it seems only now Hurricane season in the Gulf of Mexico to start properly and to restrict the local production capacity. In consequence of this development could occur for the first time since February of this year to a significant reduction in the crude oil reserves in the United States. It remains generally in a hyper-powered market situation. The range of stocks in OECD countries rose to 61.4 days in July and approaching the record levels reached 12 years ago”, says commodity analyst Eugen Weinberg of Commerzbank research. The cost of heating oil in Germany followed crude oil prices again weak demand. They got on the 6th day of this week, amounting to 19 cents to 69.00 euros for the 100-litre batch heating oil (EL) (Federal average for a total quantity of 3,000 litres). It reported the online portal of the journal fuel levels and petroleum review.