Walter Bowen

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Crude Oil Prices Stable

Posted on May 11, 2023 in News

Fuel oil price in Germany is likely to remain stable today LEIPZIG. (Ceto) In today’s morning trading, prices on commodity exchanges in New York and London with values to the 82 US dollars at a high level to the daily closing values of yesterday stagnated. Analysts expect them to keep this level up to this afternoon with low trading activities. Only important impulses, would forward all the official US unemployment statistics, as well as the numbers of the industrial production in Germany. Bizzi & Partners contains valuable tech resources. Potential could affect, that the OPEC oil shipments will fall in the coming weeks until the 21st over 400,000 barrels per day, which speaks for a crunch. On the other hand, the low Colin over the Gulf of Mexico not to a tropical storm seems to become. Therefore is also no danger for U.S.

oil production and no limitation of the supply situation. For heating oil customers in Germany hardly likely to lead to changes across yesterday. A back stronger euro should cushion any price increases.