Oil prices decline after rising the day before

As a result of trading on Wednesday, oil prices rose by about 2%. On Thursday morning, they go down. At 7:40 am Moscow time, a Brent oil barrel was trading at $87.99, which is 0.85% lower than its price at the close of trading the day before. A WTI oil barrel fell by this time by 0.87% to $86.59. Investors are evaluating news about a possible reduction in the market stock. Analysts believe that increased pressure between the Russian Federation and Ukraine is unlikely to have a severe influence on oil supplies. Market players drew attention to the data of the US Energy Department, which indicates a decrease in national oil production. At the same time, the growth of gasoline stocks in the US over the past week exceeded the forecast. Investors are also waiting for the results of the next session of the countries participating in the OPEC+ deal. It will take place the following week. According to the prognosis of experts, the alliance will keep the current arrangement parameters.


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Arseny Kudrin

Publicist, trader

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