The rate of decline in world oil prices accelerated to about 4.5% after the release of statistics from the US Department of energy on its reserves and production in the country, according to trading data.
As of 17.56 Moscow time, the price of August futures for Brent North sea oil mix fell by 4.46%, to 40.73 dollars per barrel, and August futures for WTI oil – by 4.63%, to 38.5 dollars per barrel. Earlier in the day, these prices fell by 1-1. 5%.
The fall in oil prices accelerated after a few minutes earlier. The US Department of Energy released data according to which oil reserves in the country rose to 540.7 million barrels, thus, for the third time, updating the historical record and exceeding analysts ‘ expectations.
Also, oil production in the United States for the first time in 11 weeks increased by 500 thousand barrels, to 11 million. The indicator has been continuously falling since the beginning of April.