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Oil falls in price, and Brent is at $48.71 a barrel

09.12.2020,11:23


December 9, Fineko/abc.az. Oil prices are decreasing in Wednesday’s trading amid the American Petroleum Institute’s data about the growth of oil stocks in the U.S.

API has published the data showing an increase in U.S. inventories last week by 1.14 million barrels. Gasoline and distillate stocks in the United States have also grown.

By 9:34 am, at the ICE Futures Exchange in London the price of February Brent crude futures fell by $0.13 (0.27%) to $48.71 per barrel. At the end of trading on 8 December the Brent futures for February increased in price by $0.05 (0.1%) up to $48.84 per barrel.

By 9:34 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for January fell in price by $0.10 (0.22%) to $45.50 per barrel. At the end of trading on 8 December the WTI oil futures for January dropped by $0.16 (0.35%) to $45.60 per barrel.