Oil gets cheaper on data growth of US reserves

Oil quotes during the morning trading on Friday are falling. Thus, by 8.20 am Moscow time, a Brent oil barrel fell to $86.73, or 1.87% against the closing price of trading the day before. The WTI crude barrel cost fell 2.1%. It traded at $83.77. Market participants are evaluating the details on the dynamics of raw materials stocks in the US, which was published on Thursday evening by the National Energy Ministry. The agency said that over the week, the amount of oil stock in the United States risen by 500,000 barrels or 0.1%. It reached 413 million, 800 thousand barrels. The data came as a surprise to analysts. They predicted a decrease in oil reserves in the country by 900,000 barrels. Experts note that the observed decline in oil prices is likely to be short-lived. In the future, raw materials will continue to rise in price against the backdrop of growing demand due to insufficient supply

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Arseny Kudrin

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