Crude prices are recording declines in the middle of the trading session today, Thursday, August 19th, for the sixth consecutive session, with Brent crude trading below $ 66 levels for the first time since last May, with rising concerns about global demand for oil and fuel in the largest crude consuming countries due to the rise in cases of infection. With the new strain Delta, thus imposing some restrictions on movement and travel.

Crude has been affected since Wednesday’s session by the sudden rise in US gasoline stocks, as data released by the US Energy Information Administration yesterday, Wednesday, in the official reading of stocks, showed that crude stocks fell in the last week ending on August 13 to the lowest level since January 2020 by 3.2 million barrels, compared to estimates The American Petroleum Institute, which indicated a decline of 1.2 million barrels, and in details, gasoline stocks rose by about 696 thousand barrels to reach 228.2 million barrels (expectations for a decline of 1.7 million barrels), while distillate stocks, which include heating and diesel fuels, decreased by about 2.7 million barrels. .

The continuous rise of the US dollar since the beginning of the session today, Thursday, and its trading at its highest level since November of last year, also casts a negative shadow on crude prices due to the inverse relationship between the US dollar and crude prices.

Brent crude is trading at $65.97 a barrel, down by about 3.22%, while the US NYMEX crude is trading down by 3.59% at $63.11 a barrel.