09:35 - 5.09.2024

---

September 5, Fineko/abc.az. Prices for oil of benchmark grades are rising in Thursday's trading. Oil prices are increasing amid data from the American Petroleum Institute (API) about a sharp decline in reserves in the U.S.

The price of Brent crude futures for November at the ICE Futures Exchange grew by $0.22 (0.30%) to $72.92 per barrel by 09:32. Following the trading on September 4, November’s Brent crude futures fell by $1.05 (1.42%) to $72.70 per barrel.

The price of October’s WTI oil futures on the NYMEX commodity exchange rose by $0.22 (0.32%) to $69.42 per barrel by 09:32. Following the trading on September 4, October WTI oil futures declined in price by $1.14 (1.62%) to $69.20 per barrel.

According to API estimates, oil reserves in the country decreased by 7.4 million barrels last week. Such a reduction, if confirmed by official data from the U.S. Department of Energy, will be the most significant since June.

Brent crude and WTI crude have lost more than 5% in price since the beginning of this week.