09:36 - 11.01.2023

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January 11, Fineko/abc.az. Prices for oil of benchmark grades are declining in Wednesday’s trading amid the data about the record increase in stocks in the U.S.

The price of March Brent crude futures at the London ICE Futures Exchange fell by $0.75 (0.94%) to $79.35 per barrel by 09:30 am. Following the trading on 10 January, Brent crude futures for March rose by $0.45 (0.57%) up to $80.10 per barrel.

By 09:30 am, the price of WTI crude oil futures for February on the electronic trading of the New York Mercantile Exchange (NYMEX) decreased by $0.77 (1.03%) to $74.35 per barrel. Following the trading on 10 January, the value of February futures for WTI oil grew by $0.49 (0.66%), up to $75.12 per barrel.

A report by the American Petroleum Institute showed that over the past week, stocks in the U.S. soared by 14.9 million barrels after declining over the previous 2 weeks. The growth has been a record since February 2021.