Crude prices recorded declines in the early trading of the European session today, Wednesday, January 11, after increases of more than 0.70% yesterday, Tuesday, amid anticipation in the markets for the official figures for inventories from the US Energy Information Administration today, as Brent crude declines by about 0.40%, trading at levels of $ 79.77 a barrel, while crude loses The American (NYMEX) decreases by 0.60%, and is trading at $74.68 per barrel.

The report of the American Petroleum Institute had shown in the preliminary reading of inventories issued yesterday, Tuesday, that US stocks had increased in the past week ending on the sixth of January by 14.8 million barrels, compared to expectations that indicated a decrease of about 2.2 million barrels.

In details, gasoline stocks increased by about 1.8 million barrels, and stocks of distillate products, which include heating fuel and diesel, increased by about 1.1 million barrels.

Estimates indicate that today’s official stocks will decline from last week by about one million barrels.

On the other hand, the US Energy Information Administration lowered its forecast for oil prices, as it expects the average price of US crude to reach $77.18 a barrel this year, down by about 10.6% compared to its last estimates, while it expects the average price of Brent crude to reach $83.10 a barrel, compared to $92.36. per barrel compared to previous estimates.