11:19 - 28.04.2021

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April 28, Fineko/abc.az. Prices for oil of standard grades are slightly lowering in Wednesday’s trading after the publication of data from the American Petroleum Institute (API) about the growth of reserves in the U.S.

The API informs that U.S. crude inventories increased by 4.3 million barrels last week. According to the API, gasoline reserves in the country decreased by 1.3 million barrels and distillates by 2.4 million barrels.

Also, today the U.S. Department of Energy is expected to publish data on energy reserves.

By 9:10 am, in the trading at the London ICE Futures Exchange the June’s Brent crude futures fell by $0.03 (0.05%) to $66.39 per barrel. Following the trading on 27 April the price of Brent crude oil futures for June grew by $0.77 (1.17%) up to $66.42 per barrel.

By 9:19 am, at the New York Mercantile Exchange (NYMEX) the price of June’s WTI oil futures decreased by $0.03 (0.05%) to $62.91 per barrel. At the end of trading on 27 April the WTI futures for June grew in price by $1.03 (1.66%) up to $62.94 per barrel.

At the meeting of the OPEC+ Ministerial Monitoring Committee the decision taken on 1 April to increase gradually the production for May-July was retained.

On 1 June, OPEC+ will review the situation on production levels for August, as well as in general until the end of the year.