Oil fell due to rising inventories in the United States

Нефть подешевела из-за роста запасов в США

Brent crude in London fell $1.23, and the price of WTI in new York fell $1,01.

World oil prices reference marks are significantly decreased by the growth of commercial oil reserves in the United States. This according to the auction on Thursday morning, October 11.

So, the price of December futures for North sea Brent crude on London exchange ICE Futures at 10:00 Kyiv fell by $1,23(1,48%) – to $81,86 per barrel.

In turn, the price of oil WTI with delivery in November in electronic trading on the new York Mercantile exchange (NYMEX) Upasana $1,01(1,38%) – to $72,16 per barrel.

On the eve of the American petroleum Institute (API)released data showing that crude inventories in the US last week jumped by 9.75 million barrels. This is the highest rate since February of 2017. Reserves of gasoline increased by 3.4 million barrels, while distillate reserves declined by 3.5 million barrels.

It also became known that the platform and installation in the Gulf of Mexico has yet to recover oil and gas in full due to hurricane Michael, which had reached the coast of Florida.

Earlier it was reported that in the us States of Florida and Alabama declared a state of emergency due to hurricane Michael.

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