09:35 - 12.05.2022
May 12, Fineko/abc.az. Prices for oil of benchmark grades are declining in Thursday’s trading after a sharp rise following the previous session.
Morgan Stanley analysts expect the price of Brent oil to reach $130 and WTI - $120 per barrel by the end of 2022.
By 09:19 am, at the London ICE Futures Exchange the July’s Brent crude futures fell by $1.57 (1.46%) to $105.94 per barrel. Following the trading on 11 May, the price of July’s Brent crude futures grew by $5.05 (4.93%) to $107.51 per barrel.
By 09:19 am, at the New York Mercantile Exchange (NYMEX) the June’s WTI oil futures fell in price by $1.64 (1.55%) to $104.07 per barrel. Following the trading on 11 May, the price of WTI oil futures for June jumped by $5.95 (5.96%) up to $105.71 per barrel.
According to the U.S. Department of Energy, commercial oil reserves in the country increased by 8.49 million barrels last week. Gasoline stocks in the U.S. declined by 3.61 million barrels and distillates by 913,000 barrels.
