Oil prices have stabilized after a long decline

MOSCOW, 13 Oct – PRIME. World oil prices change little on Thursday morning, stabilizing after several days of decline, markets are waiting for data on weekly stocks of this raw material in the United States, according to trading data.

Novak predicted continued volatility in oil prices

As of 7:53 Moscow time, the price of December futures for Brent crude oil is growing by 0.09%, to $92.53 per barrel, November futures for WTI is decreasing by an equally insignificant 0.06%, to $87.22.

Over the previous three trading sessions, these quotes have lost about 5.5% on fears of a recession and falling demand for oil.

On Wednesday, the markets also paid attention to the OPEC report. In the document, the organization lowered its forecast for growth in global oil demand for the year by 0.5 million barrels per day, to 2.6 million.

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Investors are also evaluating data from the American Petroleum Institute (API) on US oil reserves. According to the API, commercial stocks of this type of raw material in the country jumped by more than 7 million barrels in the week to October 7. Official statistics will be published by the US Department of Energy on Thursday evening.


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