Oil quotes on Wednesday remain under pressure of risks and data on the growth of oil inventories in the US from the API. As a result, oil quotes rushed to the July lows. At the same time, the main negative factor for oil remains concerns about the growth of oil production, as indicated by the main factors. These APIs showed an increase in crude oil inventories in the US more than 3.5 million barrels. Now the market will expect confirmation of this growth from the EIA report, which will be released by the end of the European session.
At the moment, Brent crude is trading around $ 71.70, a decline of about -1.00% in price.
Oil brand WTI is trading at $ 66.40, a decline of about -1.30% in price.
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