Prices of oil dropped again and reached the lowest level in more than a month, after the weekly data of oil industry in the USA demonstrated the growth of reserves of the black gold.
The price of oil futures fell in New York by one percent, following the drop of 6.1 percent in the previous three trade sessions.
The U.S. oil WTI for delivery dropped by 45 cents to 46.22 USD per barrel on New York commodity exchange, while the price on the Kong Kong commodity exchange amounted to 46.28 USD.
The price of WTI oil yesterday dropped by 19 cents to 46.67 USD, which was the lowest level since September 27. Total volume of trade was nearly 51 percent under the 100-day average. The U.S. oil lost 2.9 percent of its price in the past month.
The Brent oil for delivery dropped by 0.8 percent to 47.76 USD per barrel on the ICE European futures stock exchange in London.
“Reserves of this raw material increased by 9.3 million barrels last week and it is estimated that government data will also show the growth of reserves,” it was stated by the American Petroleum Institute.
At the same time, members of OPEC Libya and Nigeria are increasing the production, thus tempting the efforts of the oil cartel to finalize the agreement on reduction of pumping and stabilization of prices.
(Source: klix.ba)
