12:17 - 30.06.2021

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June 30, Fineko/abc.az. Oil prices are increasing in Wednesday’s trading amid the data about decline of inventories in the U.S.

According to the American Petroleum Institute, crude stocks in the U.S. last week fell by 8.15 million barrels after fall of 7.199 million barrels a week earlier.

By 9:18 am, at the auction on the London ICE Futures Exchange the August’s Brent oil futures grew by $0.35 (0.47%) up to $75.11 per barrel. Following the trading on 29 June the price of Brent futures for August increased by $0.08 (0.1%) up to $74.76 per barrel.

By 9:18 am, at the New York Mercantile Exchange (NYMEX) the price of the August’s WTI oil futures rose by $0.50 (0.69%) up to $73.48 per barrel. Following the trading on 29 June the WTI futures for August increased in price by $0.07 (0.1%) up to $72.98 per barrel.

At the meeting on Tuesday, the OPEC+ Technical Committee considered two scenarios for the development of the situation on the oil market: one of them is the basic OPEC report, which assumes an increase in oil demand by 5.95 million b/d in 2021, and the other, conservative, is an increase in demand by 500,000 b/d less.