Oil is under pressure. Reserves of oil are growing in the US
Oil prices fell below the zero mark, after the publication of data on oil and petroleum reserves in the US.
- According to EIA, oil reserves for the past week increased by 5.022 million barrels, exceeding the previous value of 2.408 million barrels.
- In turn, stocks of distillates decreased by -4.36 million barrels, exceeding the previous decline of -0.559 million barrels.
- The reserves of gasoline decreased by -6.271 million barrels, exceeding the decline in the previous period at the level of -0.788 million barrels.
This decrease in oil products stocks can contain and, perhaps, support the further dynamics of oil prices.
- At the moment, WTI crude oil is trading at $ 60.70, losing about -0.03% in price.
- Brent crude oil is trading around $ 64.70, adding about + 0.09% to the price.
Alexander Sivtsov