World oil prices are declining on Thursday morning, increasing losses after the release of data on the next increase in stocks of this raw material in the United States, published the day before. This is evidenced by the trading data.
As of now, the price of May futures for North Sea Brent crude oil mixture decreased by 0.65%, to $ 67.56, April futures for WTI – by 0.63%, to $ 64.21 per barrel.
The pressure on oil prices on Thursday continues to exert another increase in inventories in the United States, which is the largest consumer of this raw material in the world. Official data released on Wednesday showed that stocks rose 2.4 million barrels over the past week to 500.8 million barrels. At the same time, the indicator exceeded the 500 million mark for the first time since the beginning of December.
Investors also continue to be concerned about the situation with the coronavirus and its impact on demand. Several European countries have already stopped using the AstraZeneca COVID-19 vaccine due to concerns about potential side effects. Meanwhile, Germany has seen an increase in coronavirus cases. Italy plans to tighten quarantine measures for Easter, while France is imposing tougher restrictions.