price of oil declines on Wednesday on reports of industry experts to increase commercial reserves of oil and petroleum products in the U.S., reported Bloomberg.

On Tuesday, oil prices went up by positive statistic data on retail sales and industrial production in the United States, the confidence of investors in the economic reconstruction of the largest consumer of energy in the world.

October WTI futures on the NYMEX on Sept. 15 rose $ 2.07 (3%) - up to $ 70.93.

futures price for oil of mark WTI for October in electronic trading on the New York Mercantile Exchange (NYMEX) to 8:51 on Wednesday fell $ 0.38 (0.54%) and amounted to $ 70,55 a barrel.

commercial oil reserves in the United States for the period from 4 to 11 September 2009 increased by 631 thousand barrels - up to 336.95 million barrels, according to a report of the American Petroleum Institute (American Petroleum Institute, API). Reserves of heavy distillates increased by 5.197 million barrels - up to 170.3 million barrels, gasoline - at 1.35 million barrels to 208.83 million barrels.

oil imports in the U.S. fell last week by an average of 618 thousand barrels per day - up to 9.02 million barrels per day.

When the report was released API, the market sank, so that they are quite important, but the basic meaning still have data from the Ministry of Energy - says a trader Hudson Capital Energy Clarence Chu. Click to continue »

stock market of Russia on Tuesday soared above 1,200 points on the RTS and MICEX, support for the bulls has an optimistic statistics from the U.S..

At the end of the day the RTS index has updated an annual maximum, rising to 1,224.33 points (2.52%), which is themaximum from the end of September 2008, the MICEX index rose to 1,203.97 points (2.47%) - the maximum 1 June this year.

Futures on the RTS index to closing the session down 9 points to the underlying asset, which suggests a moderately negative expectations of the players.

top gainers on the RTS were Rosneft (RTS: ROSN) (8,9%) and Surgutneftegaz (RTS: SNGS) (7,6%).

On the MICEX were leading paper VTB (RTS: VTBR) (5,6%), Sberbank of Russia (RTS: SBER) (4,1%), Norilsk Nickel (RTS: GMKN) (3,7%).

cheaper shares of Polyus Gold (RTS: PLZL) (-1,3%).

In the morning, markets were mixed on the dynamics of the indices. Thus, the European Day of locally indicators declined on weak statistic data from Germany - ZEW institute index of confidence of investors and analysts to the economy of the country in September rose to 57.7 points from 56.1 points in August, while experts expect a growth rate of up to 60 points.

Meanwhile, the losses were quickly bounced back a week support for the bulls had statistics from the U.S..

index of manufacturing activity Empire Manufacturing in September rose to 18.88 points with 12.08 points a month earlier (expected to increase to 15 points), retail sales in August rose to a maximum value in three years - 2,7% compared with previous month (the experts expected to increase by only 1,9%). Retail sales excluding automobiles last month rose by 1,1%, while experts expected to increase by only 0,4%.

speech Tuesday night in Washington, the head of the Federal Reserve Ben Bernanke said a U.S. recession is likely over. He also noted that the size of the so-called shadow banking system, including the securitization of loans are likely to be less and will be subject to greater regulation by the supervisory authorities than it was before the financial crisis.

American market in early trading on Tuesday showed a moderate rise in the indices (within 0.1%), crude oil rose to around $ 70 per barrel WTI after local reduction in the expectations of the next increase in stocks of raw materials in the United States.

futures price for oil of mark WTI for November in the evening Tuesday was $ 69.61 per barrel (0,35%).

data on stocks of raw materials in the U.S. last week from the American Petroleum Institute will come late on Tuesday. According to the forecasts of economists, commercial stocks of distillates rose up last week for the fourth time in succession - at 1.5 million barrels. A week earlier figure jumped to its highest level since 1983 - 165.6 million barrels.

Official statistics on stocks of raw materials in the United States from the Ministry of Energy released on Wednesday.

As noted analyst IF Olma Arthur Galimov, on the eve of the American president made an optimistic statement that is probably the worst for the U.S. economy left behind. Domestic same players on Tuesday were encouraged by Finance Minister Alexei Kudrin, who announced the beginning of Russia's withdrawal from the recession in the third quarter of this year. Shopping is also fueled by some good data from Europe: Consumer prices in Britain rose above expectations, and the index of investor confidence in the economy of Germany, although it was lower than forecast, reaching a three-year maximum. Optimism added and the OPEC report, which was upgraded forecast of oil demand in 2009-2010 in connection with the anticipated global economic recovery. By the evening of growth against a background of increased yield strengths statistic data from the U.S.: Retail sales showed a record for 3-year growth, while growth in producer prices in August, twice exceeded analysts' expectations (1.7% vs 0.8%). Click to continue »