The oil price collapse and gas price plunge – HegnarOnline

The oil price collapse and gas price plunge – HegnarOnline

The price of oil has almost collapsed Tuesday, and during the evening, the decline increased. At closing on the stock exchanges in New York was the American light oil at $ 81.84.

During the day fell lightly oil the entire $ 3.9 Commodity Exchange in New York, representing 4.6 per cent. It is the largest fall in a day since November 2012, according to MarketWatch.

The price of a barrel of Brent crude was at $ 85.04 at the same time, after falling $ 3.85, equivalent to 4 , 3 percent. When the price of a barrel of Brent crude fell more than 25 percent since the end of May.

IEA shock report
Oil prices have fallen throughout the summer but the downturn continued in earnest on Tuesday after the IEA cut estimates for global oil demand.

The downward revision was at 210,000 barrels per day to 92.40 million barrels per day this year. The downward revision in October report came after it in September was cut drastically in growth projections.

IEA estimated also that the global oil supply rose by 910,000 barrels per day in September to 93.8 million barrels.

Almost worse was that the IEA’s projections for world oil demand in 2015 was also revised down by 300,000 barrels per day to 93.53 million barrels.

The entire IEA report for October 2014

Petrol prices right down
falling oil prices also followed the falling gasoline prices and gasoline for delivery in November (RBX4) fell 3.3 percent to $ 2.18 per. gallon (3.785 liters). It is the lowest since November 2010, and in dollars are we talking about a liter price of 3.79 million.

Heating Oil hit follow down and, according to MarketWatch, not been cheaper since December 2010.

The dollar continued to strengthen and by the merger, in New York cost $ 1 6.58 million, which means a barrel of Brent crude as cost 560 kroner.

Budsjettbom?
Since the revised national budget in May, the government assumes an oil price of 650 dollars, and Tuesday night the price was consequently almost 14 percent lower.

When starting price of oil also approach the government estimates for 2016 – at $ 558 – but for this year and next year, the government has thus assumed an oil price of 650 dollars.

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