[ad_1]
Oil fell to its lowest level since early October and continues to fall. About it informs MarketWatch.
Thus, the January futures for Brent crude fell 0.35% to $ 80 per barrel. On Wednesday, their price fell 2.6% to close at $ 80.28 per barrel, which is the lowest level since October 7. WTI futures for December fell 0.86% to $ 77.69 per barrel. As a result of the previous session, their price fell by 3% to $ 78.35 per barrel, which is the minimum since October 1.
According to analysts of the publication, the market continues to react to the fact that the administration of US President Joe Biden is considering the possibility of selling oil from the strategic reserve. In addition, the possibility of a similar step on the part of China is being discussed.
“Despite the upbeat report from the US Department of Energy, the market reacted negatively as it assessed the potential reaction from the Biden administration. The Biden administration has clearly stated its desire to achieve lower oil prices, and the market is assessing what it can do to contain prices, given the very limited number of tools in its arsenal, “- quoted the publication of Velandera Energy Partners CFO Manish Raj.
Oil reserves in the United States last week decreased by 2.1 million barrels – to 433 million barrels. Gasoline reserves fell by 707 thousand barrels, distillates – by 824 thousand barrels.
[ad_2]
Source link
