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The oil market is growing after the publication of data on oil reserves

Mai, 26 2021
watermark Economic news

World prices for «black gold» rose on Wednesday evening after the US Department of Energy announced a reduction in crude oil reserves in the country. The current quotation for Brent is $68.75 per barrel, WTI oil is quoted at $66.23 per barrel.


According to a report by the US Department of Energy, commercial oil reserves in the United States over the past week fell by 1.7 million barrels – to 484.3 million. Analysts at the same time expected a decrease in the index by only 1.05 million barrels.


In addition, the decline in stocks of distillates and gasoline also turned out to be stronger than experts' forecasts: distillate stocks decreased by 3 million barrels (the forecast assumed a decrease of 1.9 million), and gasoline – by 1.7 million (with a forecast of a decrease of 0.61 million barrels ).


Markets also continue to monitor the situation around Iran's nuclear deal, assessing the prospects for the return of Iranian oil to the market.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.