The price of Brent crude oil approaches $ 70

Цена нефти Brent приближается к 70 долларам

The price of oil increases due to the reduction of fuel reserves in the United States.

The price of oil continues to rise on the morning of Wednesday, January 10, and is at its highest level in three years, the strong reduction of stocks of fuel in the United States.

So, the price of March futures for Brent crude on London’s ICE Futures exchange rose 0.51%, to $69,17 per barrel. Futures price for WTI crude oil for February in electronic trading on the new York Mercantile exchange (NYMEX) increased by 0.81%, to $63,47 per barrel.

As it became known yesterday from a report of the American petroleum Institute (API), oil stocks in the state on the basis of last week fell by 11.2 million barrels. If the official statistical data of the energy Ministry, which will be released at 18:30 Moscow time on Wednesday, will coincide with the data API, the inventory reduction will be maximum for this time of year since 1999. Nevertheless, analysts expect a less significant drop – by 3.75 million barrels.

Before oil rose in price because of the increase in the number of drilling rigs for the first time in three years.

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