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Oil cheapens, and Brent is at $55.92 a barrel

14.01.2021,11:06


January 14, Fineko/abc.az. Prices for oil of standard grades are lowering in Thursday’s trading, despite U.S. Department of Energy’s data about decrease in country’s oil stocks by 3.25 million barrels last week.

S&P Global Platts reports that the market participants are concerned with weak demand for petroleum products.

By 9:32 am, at the London ICE Futures Exchange the price of March’s Brent crude futures fell by $0.14 (0.25%) to $55.92 per barrel. At the end of trading on 13 January the Brent futures for March decreased in price by $0.52 (0.92%) to $56.06 per barrel.

By 9:32 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for February declined in price by $0.07 (0.13%) to $52.84 per barrel. Following the trading on 13 January the WTI oil futures for February reduced by $0.30 (0.56%) to $52.91 per barrel.