Thursday, July 13, 2017

Oil stopped growing after data

Oil stopped growing after data from the EIA inventories

Oil prices have stopped growing after data from the Energy Information Administration (EIA) showed that the amount in US oil inventories rose last week, reinforcing concerns about a slowdown in demand for oil products.

US Energy Information Administration in its weekly report said that crude oil inventories rose by 2.1 million barrels for the week ended February 12. However, market analysts expect a significant growth? by 3.9 million barrels, while Tuesday night's American Petroleum Institute reported a decline in inventories by 3.3 million barrels.

WTI crude oil fell to $ 30.80 per barrel. Prices were at around $ 31.67 before the release of stocks of raw data. Meanwhile, the international futures of Brent fell to $ 34.55 compared to $ 35.56 the day before the release of data.

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