11:23 - 10.03.2021

---

March 10, Fineko/abc.az. Oil prices are declining in Wednesday’s trading amid the data from the American Petroleum Institute (API), which showed another jump in U.S. inventories.

According to API data, the growth of oil reserves in the U.S. last week reached 12.8 million barrels.

By 9:22 am, in the trading at the London ICE Futures Exchange the price of May’s Brent crude oil futures fell by $0.63 (0.93%) to $66.89 per barrel. At the end of trading on 9 March the Brent futures for May fell in price by $0.72 (1.06%) to $67.52 per barrel.

By 9:22 am, at the New York Mercantile Exchange (NYMEX) the price of April’s WTI oil futures decreased by $0.50 (0.78%) to $63.51 per barrel. At the end of trading on 9 March the WTI futures for April dropped by $1.04 (1.60%) to $64.01 per barrel.

Since the beginning of 2021 the oil prices have increased more than by 30%.