The price of oil approached $70 per barrel

Цена на нефть приблизилась к $70 за баррель

Brent crude in London fell $1.48, while the price of WTI in new York fell $1,20.

World oil prices reference marks prodoljat to decline against the background of rapid reserve growth in the United States. This according to the auction on Thursday evening, November 8th.

So, the price of January futures for North sea Brent crude on London exchange ICE Futures at 22:40 on Kiev fell $1.48 (2,05%) to $70,59 per barrel.

In turn, the price of oil WTI for December delivery in electronic trading on the new York Mercantile exchange (NYMEX) fell $1,20 (1,95%) to $60,47 per barrel.

Earlier it became known that the oil reserves in the U.S. last week rose for the seventh time in a row. This time of 5.78 million barrels. While market analysts had forecast an increase of reserves of no more than 1.9 million barrels.

It was also reported that the U.S. Department of energy has raised its estimate of oil production in the country in 2019, with 11.8 million barrels per day to 12.1 million b/d. the Agency Also lowered to $2 per barrel the fair price of Brent oil in 2019 to $74 per barrel.

Recall that the U.S. for the first time in 45 years has become the world leader in oil production, surpassing Russia and Saudi Arabia.

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