11:35 - 17.03.2021

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March 17, Fineko/abc.az. Prices for oil of standard grades are increasing in Wednesday’s trading after the American Petroleum Institute (API) had released the data about decline in U.S. inventories last week.

According to API data, U.S. oil reserves for the week dropped by 1.047 million barrels after a rise of 12.792 million barrels in the previous week. Experts expected an increase in reserves by 2.715 million barrels.

By 9:35 am, in the trading at the London ICE Futures Exchange May’s Brent crude futures grew in price by $0.15 (0.22%) up to $68.54 per barrel. Following the trading on 16 March the price of Brent crude oil futures for May decreased by $0.49 (0.71%) to $68.39 per barrel.

By 9:35 am, at the New York Mercantile Exchange (NYMEX) the price of April’s WTI oil futures rose by $0.24 (0.37%) up to $65.04 per barrel. At the end of trading on 16 March the WTI futures for April fell by $0.59 (0.90%) to $64.80 per barrel.

U.S. Department of Energy’s official report on energy reserves will be published on Wednesday.