10:48 - 26.05.2021

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May 26, Fineko/abc.az. Oil price changes are weak and multidirectional on Wednesday after a slight rise in the last trading results.

According to an analyst at SPI Asset Management, the oil demand in the U.S. and China continues to recover, but a potential agreement with Iran is holding back the oil market.

By 9:24 am, in the trading at the London ICE Futures Exchange the July’s Brent crude futures increased by $0.06 (0.09%) up to $68.71 per barrel. Following the trading on 25 May the price of Brent crude oil futures for July grew by $0.19 (0.28%) up to $68.65 per barrel.

By 9:24 am, at the New York Mercantile Exchange (NYMEX) the price of July’s WTI oil futures fell by $0.06 (0.09%) to $66.01 per barrel. At the end of trading on 25 May the WTI futures for July increased in price by $0.02 (0.03%) up to $66.07 per barrel.

According to the American Petroleum Institute (API), oil reserves in the U.S decreased by 439 million barrels last week.