10:44 - 25.06.2020

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June 25, Fineko/abc.az. Oil prices are falling on Thursday amid an increase in the number of new cases of coronavirus infection in several countries, as well as growth in oil reserves in the U.S. for the third week running.

Data from the US Energy Department showed a rise in oil reserves in the country for the third week in a row - by 1.4 million barrels.

By 9:10 am, at the London ICE Futures Exchange the Brent crude futures for August fell by $0.33 (0.82%) to $39.98 a barrel. Following the trading on 24 June the price of Brent futures for August collapsed by $2.32 (5.44%) to $40.31 a barrel.

By 9:10 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for August fell in price by $0.25 (0.66%) to $37.76 per barrel. At the end of trading on 24 June the price of these contracts fell by $2.36 (5.85%) to $38.01 a barrel.