Oil prices continue to decline
Oil prices continue to decline for the third consecutive session, and Brent crude contracts were traded today, Wednesday, at the level of $95 a barrel, amid fears of a slowdown in demand for crude in China. By 09:28 Moscow time, US West Texas Intermediate crude futures fell 0.37% to $88.58 a barrel, while Brent crude futures fell 0.25% to $95.12 a barrel, according to Bloomberg Agency data.
The decline in oil prices comes before the release of data in the United States on crude inventories amid expectations of an increase in inventories, based on the report of the American Petroleum Institute. According to the report issued yesterday, crude oil stocks rose by 5.6 million barrels in the week ending November 4, 2022, with gasoline stocks rising by 2.5 million barrels.