Oil is cheaper on the data about growth of stocks in the United States

© AP Photo / PRNewsFoto/Redhawk Investment Group, LLC, ShutterstockДобыча oil. Archival photoOil is cheaper on the data about growth of stocks in the United States© AP Photo / PRNewsFoto/Redhawk Investment Group, LLC, Shutterstock

World oil prices decline on Wednesday morning as investors play data from the American petroleum Institute (API) on the reserves of «black gold», according to the auction.

As at 08.17 Moscow time the cost of October futures for North sea petroleum mix of mark Brent has decreased on 0,83% — to 51,35 USD per barrel. Price of the September futures for WTI decreased by 0.87%, to 48,73 dollars per barrel.

According to the report of API, oil stocks in the U.S. for the week ended July 28, increased unexpectedly by 1.8 million barrels to 488,8 million. While analysts expected that stocks will fall by 2.9 million barrels.

«Report on oil inventories from the API was a fatal blow (for the market of «black gold» — ed.)», — results Reuters opinion of the senior market analyst OANDA Jeffrey Halley (Jeffrey Halley).

Now, experts expect data US Department of energy on oil reserves in the country, which will be published later on Wednesday. According to their forecasts, commercial oil stocks in the United States (excluding strategic reserves) for the week ended July 28 decreased by 0.6%, or 2.9 million barrels to 480,5 million barrels.

Read more about oil prices, visit the website RIA Novosti >>

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