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Oil prices fall amid data about growth of oil stocks in U.S., and Brent is at $47.01 a barrel

02.12.2020,10:20


December 2, Fineko/abc.az. Oil prices are declining amid the data from the American Petroleum Institute (API) about the growth of oil stocks in the U.S.

According to API data, U.S. oil stocks increased by 4.15 million barrels last week. The API report also indicated an increase in gasoline and diesel stocks.

By 9:32 am, at the London ICE Futures Exchange the price of February Brent crude futures fell by $0.41 (0.86%) to $47.01 per barrel. At the end of trading on 1 December the Brent futures for February fell in price by $0.46 (0.96%) to $47.42 per barrel.

By 9:32 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for January fell in price by $0.45 (1.01%) to $44.10 per barrel. At the end of trading on 1 December the WTI oil futures for January fell in price by $0.79 (1.74%) to $44.55 per barrel.