Oil prices from the world’s leading brands continued to fall on Thursday due to data on the increase in stocks of raw materials in the United States last week.
The market is also under pressure from news that Iran may soon resume talks on its nuclear program and the related lifting of restrictions on oil exports, MarketWatch reported.
December futures for the Brent variety on the London Stock Exchange ICE Futures at 9:16 Bulgarian time fell by $ 0.95 – to $ 83.63 per barrel. On Wednesday, their price fell by $ 1.82 (2.1%) and reached $ 84.58 per barrel at the close of trading.
At the same time, the price of December futures for US oil WTI in e-commerce on the New York Stock Exchange (NYMEX) at the same time fell by $ 0.90 – to $ 81.76 per barrel. As a result of the previous session, these contracts fell by $ 1.99 (2.4%) to $ 82.66 per barrel.
United States’ trading oil inventories have risen 4.27 million barrels in the past week to 430.81 million barrels, the country’s energy ministry said on Wednesday.
Analysts polled by S&P Global Platts predicted a reduction of only 100 thousand barrels.
Gasoline inventories decreased by 1.99 million barrels and amounted to 215.75 million barrels, and distillates – by 432 thousand barrels to 124.96 million barrels.
Meanwhile, stocks at the Cushing terminal, where NYMEX-traded oil is stored, fell 3.9 million barrels to 27 million barrels, the lowest level since October 2018.
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