11:18 - 10.02.2021

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February 10, Fineko/abc.az. Oil prices are slightly lowering on Wednesday after the publication about the data on stocks in the U.S. for the past week.

The American Petroleum Institute (API) informs that country’s oil reserves last week decreased by 3.5 million barrels. The decline was recorded following the third consecutive week, but it slowed down compared with the previous week, when stocks fell by 4.26 million barrels.

By 9:20 am, in the trading at the London ICE Futures Exchange the price of April’s Brent crude oil futures fell by $0.04 (0.07%) to $61.05 per barrel. At the end of trading on 9 February the Brent futures for April rose in price by $0.53 (0.88%) up to $61.09 per barrel.

By 9:20 am, at the New York Mercantile Exchange (NYMEX) the price of the March’s WTI oil futures decreased by $0.11 (0.19%) to $58.25 per barrel. At the end of trading on 9 February the WTI futures for March grew by $0.39 (0.67%) up to $58.36 per barrel.

Brent and WTI ended the trading on 9 February at their highest levels since January 2020.