Oil is trading under pressure: Data on oil reserves

Oil prices continue to decline against because of rising oil reserves and petroleum products stocks in the US. According to published data, over the past week, oil reserves rose by 1.854 million barrels, while analysts expected a decline of -2.850 million barrels.

Gasoline stocks increased by 0.894 million barrels, against the decline in the previous period at -3.312 million barrels.