Crude prices continue to decline in the middle of the trading session of the American session today, Wednesday, August 4th, to trade at its lowest level in two weeks, with rising concerns about the speed and spread of the Delta strain and the decline in global demand for crude.
The data of the US Energy Information Administration, released a while ago, showed an increase in US crude oil stocks by 3.6 million barrels in the last week ending on July 30, compared to a decline of about 4.1 million barrels the previous week, contrary to expectations that indicated a decrease of about 3.1 million barrels, and in details Gasoline stocks decreased by about 5.3 million barrels, while stocks of distillates, which include heating and diesel fuels, increased by about 800,000 barrels.
The average US imports of crude oil reached 6.4 million barrels per day last week, a decline of 75,000 barrels compared to the previous week.
Brent crude is trading at 71.46 dollars per barrel, down by 1.31%, while US crude (NYMEX) is down by 1.98% and trading at 69.16 dollars per barrel.
06/11/2024
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