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Oil grows in price, and Brent is at $43.96 a barrel

11.11.2020,12:10


November 11, Fineko/abc.az. The benchmark oil prices keeps on rising in Wednesday’s trading amid the American Petroleum Institute’s data about the decline in oil stocks in the U.S.

According to API’s data, last week the oil stocks in the U.S. decreased by 5.15 million barrels, gasoline reserves by 3.3 million barrels, and distillates by 5.62 million barrels.

By 9:27 am, at the London ICE Futures Exchange the price of Brent crude futures for January rose by $0.35 (0.80%) up to $43.96 per barrel. At the end of trading on 10 November the January Brent futures rose in price by $1.21 (2.85%) up to $43.61 per barrel.

By 9:27 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for December increased in price by $0.36 (0.87%) up to $41.72 per barrel. At the end of trading on 10 November the December WTI futures grew by $1.07 (2.66%) up to $41.36.