Oil prices fell due to US stocks

News

Oil prices fell due to US stocks

21.05.2021 News

World oil prices of reference brands at the auction on Wednesday, May 19, fell after the publication of data on stocks in the United States.

In particular, the price of July futures for Brent oil on the London Stock Exchange ICE Futures fell by 4.89% – to $ 65.35 per barrel, but later returned to above $ 66.

WTI oil futures for June trading on the New York Mercantile Exchange (NYMEX) traded at $ 62.62 per barrel, which is 4.38% lower than yesterday.

According to the US Department of Energy, oil reserves in the country for the week increased by 1.32 million barrels, while experts expected a decrease of 2.9 million barrels.

At the same time, oil futures are being pressured by news of a possible increase in production in Iran.

 

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