Oil prices fell by almost 60 percent. since the summer of last year and more than 34 percent. in the last three months. Quotations of raw materials fell last continuously for eight consecutive weeks; the longest such streak since 1986.
As arrives unkind information on the state of the Chinese economy is growing concern that demand will fall dramatically in the country, which is the second-largest oil consumer in the world. Investors fear that both China and other major emerging markets will reduce imports.
The price of oil also affected by rising production in the United States; in August, an American production of the raw material was 11 percent. higher than a year ago.
fuels are still cheaper
The fourth week in a row cheaper fuel – according to data from the Lodz brokerage Reflex. Per liter of petrol PB95 4 gold you have to pay 86 cents or 5 cents less than a week ago – a similar decline observed in the case of diesel, currently an average of a liter of diesel have to pay 4 gold 46 pennies. This is the lowest price for 6 months, ie since mid-February.
Autogas prices are down an average of 3 gr. / li currently in the country liter of petrol costs an average of 1.93 PLN / l.
According to analysts Reflexes, taking into account the scale of the fall in wholesale gasoline prices are still lower by 10 cents per liter. In the case of diesel scale reductions should be lower and amount to 4-6 gr. / L.
They explain that declines in fuel prices is a result of lower prices of crude oil and observed in recent days to strengthen buck.
In comparison with the previous year for a liter of diesel now pay up to 80 gr. / liter less. Gasoline is an average of 50 gr. / L cheaper than last year. The highest fuel prices is West province. The cheapest you can refuel in Silesia.
According to analysts, the e-petrol.pl in the last week of the holidays, drivers can expect further declines in fuel prices, both at wholesale as well as petrol stations.
Analysts believe e-petrol.pl, that although the fuel cheaper, then watching the pace of reductions in wholesale, retailers are not too keen to the same extent translate this station.
A can be even cheaper, as oil prices fall
Iran is hiding millions of barrels of oil on ships in the Gulf. So says an Israeli company, engaged in surveillance of ships. The company was able to determine this by using modern technology.
The sanctions imposed on Iran in response to its nuclear program cause significant restrictions on oil exports. Windward Israeli company, founded by former soldiers of the Navy, says that Iran is hiding now more than 50 million barrels of oil. – A few weeks ago, the Iranian authorities through the state news agency said that there are no stocks of crude on ships. According to our information based on the technology we worked 5 years to 54 million barrels hidden in the sea – says envoy of the Polish Radio co-founder of Windward Ami Daniel.
Iran hides the oil
Experts say that the raw material is being on a giant, 280-foot-long ships anchored in the Persian Gulf. They point out that stocks may in the future help Iran to speculation on the oil market.
Ami Daniel from the company Windward stresses that modern technology has managed to create a huge database on many ships in the world. “Our technology is based on multiple information from multiple sources on the logistics, the position of ships, cargo items. It all gathered together and created the DNA of each vessel. We DNAs for each of the transports 200,000 worldwide. We publish on the Internet the data collected over the last four years, “- adds Daniel.
Huge deposits
As reports from Jerusalem emissary of the Polish Radio Wojciech Cegielski, Iran is the fourth largest oil reserves in the world. Already in 2012, The New York Times reported that Tehran unused oil stored on ships in the Gulf. The Iranian government has repeatedly said, however, that they are not able to meet even the needs of its population.
In July, the international community entered into a historic agreement with Iran, but the sanctions are still in force.
“This may be the worst series for 30 years”
Crude oil prices fuel the stock market in New York are falling, and so for a few weeks. This means that it may be the longest weekly series of declining crude prices almost 30 years – inform brokers. A barrel of West Texas Intermediate crude oil, supply in October the stock market fuels the NYMEX in New York, is valued after 40.65 USD after discount of 67 cents.
Brent for October deliveries of fuel on the stock exchange ICE Futures Europe in London cheaper by 62 cents to USD 46.00 per barrel.
The signals that the market is oversupply of fuel oil for several weeks, contributing to the fall in prices of raw materials and oil in the US is already priced the lowest in 6 years. This situation may be prolonged – analysts estimate.
Oil stocks in the US rose last week by 2.62 million barrels to 456.21 million barrels – informed the US Department of Energy (DoE).
Inventories of raw materials in the US are currently about 100 million barrels above the 5-year average – according to data from the DoE.
– If you want to avoid pressure on further declines in oil prices, it must come some action producers, or Cutting supplies – says Ric Spooner, chief analyst at CMC Markets in Sydney.
This week crude oil on the NYMEX in New York grew cheaper by 5.2 percent.
Oil cheapest for 6 years. “It’s not the end of the fuel price cuts, although it will not be steep drops”
TVN Agency / x-news
IAR / PAP, abo
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