Crude prices are losing all their gains recorded at the beginning of the session today, Wednesday, May 18th, which exceeded 2% in the morning, coinciding with the rise in optimism due to the easing of the restrictions of the Corona virus in the largest consumer of crude in the world, which supports the rise in demand in the coming period, in addition to the decline in stocks in the week the past .

The report of the US Energy Information Administration issued a few moments ago showed that US oil stocks fell by about 3.4 million barrels in the last week ending on May 13th, compared to expectations that indicated an increase of 1.47 million barrels, and compared to the American Petroleum Institute report, which showed a decline in stocks by about 2.4 million barrels yesterday. Tuesday . In details, gasoline stocks fell by about 2.4 million barrels, compared to expectations that indicated a decline of 500,000 barrels, while distillate stocks, which include heating and diesel fuels, rose by about 1.24 million barrels, compared to expectations that indicated a decline of 242 thousand barrels.

China, after it began imposing restrictions in its largest city since the beginning of the second quarter of the year, announced this morning that it had allowed more than 800 financial institutions in Shanghai to resume work, in addition to easing some testing rules for travelers after the health authorities announced that no new cases appeared outside the reservation area. health for the third day in a row.

NYMEX crude prices exceeded Brent crude prices for the first time in two years, as American crude (NYMEX) is trading at levels of 112.64 dollars a barrel, an increase of about 0.20%, while Brent crude is trading at 111.90 dollars a barrel, down by 0.03.