The price of oil is reduced by the unexpected growth of stocks of raw materials in the United States

© RIA Novosti / Ilya Petliurite in photobacteria oil. archival photoThe price of oil is reduced by the unexpected growth of stocks of raw materials in the United States© RIA Novosti / Ilya Petliurite the image Bank

World oil prices on Wednesday decrease in value after the message on growth of stocks of raw materials in the U.S. according to the American petroleum Institute (API), according to the auction.

As at 8.28 GMT the price of March futures for North sea petroleum mix of mark Brent has decreased on 0,17% — to 69.83 per barrel, March futures for WTI — by 0.03%, to 64.45 per barrel.

According to the Institute, the oil reserves in the country rose by 4.75 million barrels in the week to January 17. Gasoline inventories increased by 4.1 million and distillates fell by 1.3 million. The previous seven weeks of oil reserves all the time decreased. Analysts had expected over the last week, stocks declined by 1.6 million barrels.

Last week, the API reported a significant reduction of oil reserves of 5.12 million barrels.

Now analysts expect data on oil reserves from the Ministry of energy of the country, which will be published later on Wednesday. According to analysts, stocks of raw materials for the week ended January 19 fell by 1.6, or 0.4%, to 411,1 million barrels.

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