Ambiguous oil prices dynamics - May 17, 2012 (sp)

Ambiguous oil prices dynamics - May 17, 2012

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The oil prices behaved mixed on Thursday on the world market after the release of the report on oil supply in the USA and the Japanese GDP higher than predicted.

The June oil futures for WTI brand yesterday added 11 cent or 0.12% having ascended to 92 dollars 92 cent per barrel.

The June Brent futures lost 37 cent or 0.34% and cost 109 U.S. dollars and 38 cent per barrel.

As the US Department of Energy informed, the commercial oil supply for the week ending on May 11, upturned by 2.1 million barrels equaling 3hundered and 81.6 million barrels.

This contradicted the experts� forecasts who expected an increase by 1.8 million barrels.

At the same time the market was negative as to the news that the US authorities called for the G8 members to prepare for using the strategic oil supply by July, when the European Union embargo for oil delivery from Iran comes into effect.

Nevertheless, the statistics from Japan added positive sentiment to the market: the Japanese GDP in January � March grew by 1% versus the last quarter and by 4.1% on a yearly basis. The data exceeded the best forecasts of the analysts who foresaw the advance by 0.9% and by 3.5% correspondingly.

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