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Oil: Prices down on Wednesday

22/04/2021
Source : ORISHAS FINANCE
Categories: Sectors

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Oil is falling after U.S. inventories rise. Oil prices lost ground on Wednesday, penalized by the rise in crude inventories in the United States and the circulation of Covid-19 that limits the consumption of black gold in the world.

The barrel of North Sea Brent for june delivery ended $65.32 in London, down 1.91% from the previous day's close. In New York, the US barrel of WTI for the month of June, which was the first day of use as a reference contract, gave up 2.15%, to 61.35 dollars.
According to the weekly report of the U.S. Energy Information Agency (EIA) released Wednesday, U.S. crude inventories rose by 600,000 barrels, to 493.0 million barrels (MB), as of April 16. Gasoline reserves also increased (+100,000 barrels), while distilled products (fuel oil and heating gas) fell (-1.1 MB).

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