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Oil prices fall amid data about growth of U.S. oil stocks, and Brent is at $42.87 a barrel

21.10.2020,11:31


October 21, Fineko/abc.az. In Wednesday’s trading the prices for benchmark oil brands are declining amid the American Petroleum Institute’s data about the growth of oil stocks in the U.S.

API reports that last week oil stocks in the U.S. grew by 584,000 barrels. According to API data, gasoline reserves declined by 1.6 million barrels and distillates by 6 million barrels. Oil stocks at the Cushing terminal grew by 1.2 million barrels.

By 9:20 am, at the London ICE Futures Exchange the Brent crude futures for December fell in price by $0.29 (0.67%) to $42.87 per barrel. At the end of trading on 20 October the price of Brent crude futures for December increased by $0.54 (1.27%) to $43.16 per barrel.

By 9:20 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for November fell in price by $0.23 (0.55%) to $41.47 per barrel. At the end of trading on 20 October the November WTI futures rose by $0.64 (1.6%) to $41.70.