Oil falls in cost, and Brent is at $65.01 a barrel


April 22, Fineko/abc.az. Prices oil of standard grades are lowering on Thursday amid the data about the growth of oil reserves in the U.S. and concerns about the fuel demand in connection with the growing incidence of Covid-19 around the world.

Commercial oil reserves in the U.S. last week increased by 594,000 barrels, according to the weekly report of the Ministry of Energy of the country. Gasoline inventories grew by 85,000 barrels and commercial distillate stocks decreased by 1.07 million barrels.

Experts expected a decrease in oil reserves by an average of 4 million barrels.

By 10:02 am, in the trading at the London ICE Futures Exchange the June’s Brent crude futures fell by $0.31 (0.47%) to $65.01 per barrel. Following the trading on 21 April the price of Brent crude oil futures for June fell by $1.25 (1.88%) to $65.32 per barrel.

By 10:02 am, at the New York Mercantile Exchange (NYMEX) the price of the June’s WTI oil futures decreased by $0.30 (0.49%) to $61.05 per barrel. At the end of trading on 21 April the WTI futures for June declined in price by $1.32 (2.11%) to $61.35 per barrel.