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Oil prices fall after rising the day before

10.06.2020,12:00


June 10, Fineko/abc.az. Prices for oil of standard grades are declining in Wednesday’s data on the growth of inventories in the U.S.

The American Petroleum Institute reports that oil reserves in the U.S. increased by 8.4 million barrels, gasoline reserves decreased by 2.9 million barrels, distillate reserves grew by 4.3 million barrels, and oil reserves at the Cushing terminal declined by 2.3 million barrels.

By 9:20 am, at the London ICE Futures Exchange the Brent crude futures for August fell in price by $0.52 (1.26%) to $40.66 a barrel. Following the trading on 9 June the price of Brent oil contracts for August increased by $0.38 (0.93%) up to $41.18 a barrel.

By 9:20 am, at the New York Mercantile Exchange (NYMEX) the WTI futures for July fell by $0.64 (1.64%) to $38.30 a barrel. At the end of trading on 9 June at the NYMEX the price of July’s WTI futures grew by $0.75 (1.96%) up to $38.94 a barrel.