Petroleum price-cutting in New York city
On the end of auction Futures Contract of supply of "the black gold" during November concluded by $63,08 per barrel.
It is $1,04 lower than the similar index of the previous Wednesday and $7,77 lower than absolute maximum stated on 30 August.
As the experts say, publication of data by Department of Energy promoted price-cutting of petroleum. This data shows that commercial supply rose by 1 million barrel and that exceeds the level of the past year by 11%.
Analysts mark that there is still no preconditions for the considerable price-cutting. Now 25,5% of petroleum refineries stand idle. The reason is damage caused by tropical tornados. In the area of Gulf of Mexico oil production is only 31,2% of usual level and gas production is 43,3%. The restorative process goes slowly and an industry is going to receive less 140 millions of barrel of petroleum before the end of year.
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