The prices for benchmark crude oil fell on Wednesday afternoon based on data on unexpected growth of fuel stocks in the USA. According to the American Petroleum Institute, commercial oil reserves in the US last week rose by 3 million 660 thousand barrels. Pressure on the market is also confirmed by Bloomberg, reporting that Libya increased oil production by 40-50% compared with July to more than 1 million barrels per day. October futures for Brent crude by 15:13 Moscow time fell by 60 cents to 71 dollars 86 cents per barrel. The price of the September WTI futures contract fell by 70 cents to 66 dollars 34 cents per barrel by that time.
Oil firms but sets to acquire more gains on output reduction optimism13.02.2020
Oil maintains momentum as virus concerns may lead to deeper output cuts13.02.2020
Chinese stocks drop as Hubei virus cases reports double up13.02.2020
Stocks climb as market appetite improves over lowest reported new virus cases