Oil price remains the same

The Oil prize remained stable until yesterday. This happens, while the market expects to know the impact of  the Tropical Storm Arthur in the U.S. on gasoline demand.

A barrel of “light sweet crude” (WTI) for August delivery fell 3 cents, the price closed yesterday at $ 105.34 on the New York Mercantile Exchange (Nymex).

“Traders speculate on the possibility that the Tropical Storm Arthur”, which should pass up by “the East Coast” of the United States, “interferes with the demand for gasoline” in a high consumption date as the july 4th weekend, said Bob Yawger, from Mizuho Securities. On Friday the markets will be closed.

Rising stocks of refined products interferes on oil prices, because for operators is a sign of a weaker demand.