During Wednesday's trading, oil prices of the reference brands continued to decline. And if, at the end of last week, the reason for the decline of China's demands and the peaceful resolution of the Hashoggi crisis is now data on the unexpected growth of commercial stocks in the United States.
January's futures for Brent at the London Stock Exchange ICE Futures at 17:50 fell 0.56 dollars (0.93%) – to 59.65 dollars / barrel. WTI futures for the same month of the New York Stock Exchange (NYMEX) fell by $ 0.27 (0.52%) – to $ 51.29 per dollar / barrel, Interfax-Ukraine reported.
According to the US Department of Energy, the country's oil reserves last week increased by 3.577 million barrels to 401.5 million barrels. Thus, the stock growth continued for the tenth consecutive week. Taking into account the season, reserves are close to the average level in five years.
At the same time, oil production in the US has not changed, reaching around 11.7 million barrels per day (b / s), a record. Imports of oil increased by 608 thousand b / d (8%), to 8.16 million b / d. Oil exports from the United States jumped by 473 thousand b / d (24%) – to 2.44 million b / d, a new historic high.