Oil is stable
Oil prices remain stable, despite the decline in US stocks of raw materials.
- According to the EIA, oil reserves in the United States decreased by -6.495 million barrels over the past week, exceeding the decline in the previous period at -5.117 million barrels.
The restrained dynamics of oil prices is explained by the significant growth in sales of shale oil, which is facilitated by its current price in the market. It caused a reduction in its reserves in the US, thereby increasing the supply of raw materials on the market.
- At the moment, WTI crude oil is trading at $ 57.58, adding about + 0.03% to the price.
- Brent crude oil is trading at around $ 63.95, adding about + 0.24% in price.
Alexander Sivtsov