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Decrease in US oil reserves positively effects oil prices

10 July 2019 12:05 (UTC +04:00)

4 weeks’ consequent decline of oil reserves of the US led to increasing of oil prices in the world market, APA-Economics reports.

According to the information, price of September contract on Brent oil exportation was 64.94 dollars/Barrel by rising 1.22% during trade operations, held in ICE London Intercontinental stock at the moment of writing this article.

Additionally, the price of WTI brand oil stood at 58.85 dollars/Barrel by increasing 1.76% by exporting in August in NYMEX goods stock of New-York.

Note that, according to calculations of American Petroleum Institution (API), finals of last week (July 1-5) show oil reserves of US was 461,4 mln. barrel by falling 8.1 mln. barrel