Oil prices accelerated growth after the publication of statistics on its reserves in the US

MOSCOW, 28 Sep — PRIME. World oil prices on Wednesday evening are accelerating growth after the publication of statistics on the stocks of this type of raw material in the United States, follows from the trading data.

Contents hide

1 The United States clarified who could fall under secondary sanctions on Russian oil

2 Related posts:

The United States clarified who could fall under secondary sanctions on Russian oil

As of 18.29 Moscow time, the price of December futures for Brent crude oil is growing by 2.34%, to $86.86 per barrel, November futures for WTI – by 2.94%, to $80.81. At the same time, before the publication of statistics, both brands grew by about 1%.

Earlier Wednesday it became known that in the week ended September 23, US commercial oil inventories fell by 0.2 million barrels, or 0.1%, to 430.6 million barrels. At the same time, analysts polled by the DailyFX portal, on the contrary, expected an increase in inventories by 0.4 million barrels. The strategic reserve, in turn, is at a minimum since July 1984 – 422.6 million barrels.

Read This Now: Trump advertises crypto through criticism on Twitter

The reduction of oil reserves in the US fuels investors’ fears about the lack of “black gold” in world markets. Prices react to statistics by increasing.

In addition, a reduction in supply is expected due to tropical hurricane Ian. According to the latest data from the US Bureau of Safety and Environmental Enforcement (BSEE), “Ian” has led to a halt of 11% of oil production and 8.56% of gas production in the Gulf of Mexico.