Oil grows drops in price, and Brent is at $42.13 a barrel

08.10.2020,11:21


October 8, Fineko/abc.az. On Thursday, the oil prices are rising moderately after their decline following the previous trading session amid the data about an increase in U.S. oil stocks.

Yesterday-published data of the U.S. Department of Energy showed the first increase in country’s oil reserves for the past four weeks - by 500,000 barrels. Experts on average predicted a decrease in reserves by 2 million barrels.

By 9:28 am, at the London ICE Futures Exchange the Brent crude futures for December grew by $0.14 (0.33%) up to $42.13 per barrel. At the end of trading on 7 October the price of Brent crude futures for December declined by $0.66 (1.55%) to 41.99 per barrel.

By 9:28 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for November grew in price by $0.08 (0.2%) up to $40.03 per barrel. At the end of trading on 7 October the November WTI futures dropped in price by $0.72 (1.77%) up to $39.95 per barrel.