World Oil Prices Moving from Low Level

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Business - World oil observed crawling from lows, despite still suppressed by the momentum of the strengthening dollar. Reuters launched on Wednesday (10/10/2014), world oil prices fell to their lowest level for more than two years, in which crude oil prices recorded the largest daily since 2012.

The prices of light sweet crude oil for November delivery fell USD3,42 be USD9,16 barrel of the New York Mercantile Exchange. Brent crude for November delivery fe;; USD2,53 ne USD94,67 per barrel in London trade.

The price of Brent crude in increased by about 0.2 percent LCOc1 be USD94,82 per barrel. This increase occurred after the marked loss of 16 percent in the quarter, which is the most in two years. While  the price of crude oil types increased by about 0.2 percent CLc1 be USD91,32 barrel after slumping 12 percent for the quarter, also the biggest quarterly loss in two years.

Energy Information Agency (EIA), a statistical unit of the Department of Energy, on Wednesday will release a report for crude oil inventories last week. Expectations of an increase in the supply of American oil was judged to have hit the market. Traders estimate that crude inventories will increase by more than one million barrels.