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Oil price goes down amid API data on growth of oil stocks in U.S., and Brent is at $41.40 a barrel

23.09.2020,11:11


September 21, Fineko/abc.az. Oil is declining in price in Wednesday’s trading amid the American Petroleum Institute’s data, showing an increase in oil stocks in the U.S. last week.

By 9:10 am, at the London ICE Futures Exchange the Brent crude futures for November fell in price by $0.32 (0.77%) to $41.40 per barrel. Following the trading on 22 September the price of Brent crude oil grew by $0.28 (0.68%) up to $41.72 per barrel.

By 9:10 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for November reduced by $0.38 (0.95%) to $39.42 per barrel. At the end of trading on 22 September the WTI crude oil increased in price by $0.26 (0.7%) up to $39.80 per barrel. The price of the expired contract for October grew by $0.29 (0.74%) up to $39.60 per barrel.

The API informs that oil reserves in the U.S. in the week ended 18 September increased by 691,000 barrels. According to API’s data, gasoline stocks fell by 7.7 million barrels and distillates by 2.1 million barrels.