Oil prices fall on data about growth of stocks in the United States
Oil is cheaper after the publication of the report of the US Department of energy showing the growth of oil reserves in the country.
The oil reserves in the U.S. for the week ended may 22 rose to 7,928 million barrels, said the energy Ministry of the country. Reserves of gasoline in the United States for the week decreased to 724 thousand barrels, distillates – grew by 5,494 million barrels.
Oil stocks on terminal Cushing decreased by 3,395 million barrels.
According to the American petroleum Institute (API), published on Wednesday, oil reserves in the U.S. in the week ended 22 may, increased by 8.7 million barrels. Gasoline inventories rose 1.1 million barrels, distillates – by 6.9 mln barrels. Reserves of oil at the terminal in Cushing fell by 3.4 million barrels.
Experts polled by S&P Global Platts, predicted the decline of oil reserves in the country last week by 1.2 million barrels.
The cost of July futures for Brent crude on the London ICE Futures exchange to 18:09 MSK is $34,55 per barrel, of $0.19 (0.55 percent) below the price of closing of previous session.
Futures for WTI crude oil for July in trading on the new York Mercantile exchange (NYMEX) by this time has fallen in price by $0.10 (0.30 percent) to $32,71 per barrel.