The world oil prices are declining on Thursday morning at an increase in the production of “black gold” and oil products in the USA, WTI is already cheaper than $ 70 per barrel. This is evidenced by trading data.
The price of August futures to the North Core oil mixture of Brent’s brand decreased by 0.68%, to $ 71.74 per barrel, the July futures on WTI was raped by 0.64%, to $ 69.52 per barrel.
Negative dynamics are observed in the oil market after the exit on the eve of static oil reserves, according to which the mining of “black gold” in the country increased by 0.2 million barrels per day, to 11 million in the country for a week. In addition, gasoline reserves in the country increased by 7 million barrels.
however, as for gasoline, its accumulation is obviously happening in the hope of further use. “The accumulation of gasoline reserves will probably be” one-time “, and during the season of driving consumption will be essential. We still observe a gradual improvement in mobility not only in the United States, but also in Europe,” said Bloomberg Strategist Ubs Wealth Management Wayne Gordon (Wayne Gordon).
Investors are also waiting for the OPEC report, which will be published later on Thursday, in the hope of getting comments on the market situation.