Oil (current news)
Oil prices are inactive in the course of trading on Thursday, after a decline the day before. The main influence on oil quotations was provided by yesterday’s data on oil and oil products in the US. According to published data, oil reserves fell by -5.610 million barrels, against the decline in the previous period at -3.429 million barrels.
In turn, the reserves of gasoline increased by 6.780 million barrels, against the growth in the previous period at 3.627 million barrels, which is associated with a seasonal decline in demand.
The growth in oil products stocks may in the future cause a reduction in the volume of processing of raw materials by US refineries, which will cause its growth in storage facilities and put pressure on oil quotations.
- At the moment, WTI crude oil is trading at $ 56.03, adding about + 0.13% to the price.
- Brent crude oil is trading at around $ 61.42, adding about + 0.33% to the price.
Also, see Technical Analysis of Oil.
Alexander Sivtsov