Brent crude in London fell by $1.68, while the price of WTI in new York fell $0,66.
World oil prices reference marks are significantly decreased. This according to the auction the morning of Wednesday, July 11.
So, the price of August futures for North sea Brent crude on London’s ICE Futures exchange at 11:20 in Kiev fell by $1.68 (2,13%) to $77,18 per barrel.
In turn, the price of oil WTI for August delivery in electronic trading on the new York Mercantile exchange (NYMEX) decreased by $0,66 (0,04%) to $73,45 per barrel.
The decline in oil prices occurred against the backdrop of a sharp fall in stocks of “black gold” in the United States. Thus, according to the American petroleum Institute (API), stockpiles last week fell by 6.8 million barrels to 410,1 million against the forecasted drop to 4.5 million barrels.
Analysts believe that the pressure on quotes provided to U.S. plans to impose additional duties on products from China, $200 billion Earlier, Washington imposed import duties on goods from China, totaling $34 billion.
Earlier it was reported that in June, the U.S. increased its oil production at 100 thousand barrels per day to 10.9 million b/d.
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