Crude records highs with the beginning of trading in the European session today, Wednesday, August 11th, as Brent crude regained the levels of 70 dollars, after increases of more than 2% yesterday, Tuesday, to trade this morning at levels of 71.03 dollars per barrel, an increase of about 0.57%, while US crude is trading ( NYMEX) at levels of $ 68.66 a barrel, an increase of about 0.54%, amid anticipation in the markets for the report of the US Energy Information Administration, which will be issued today, Wednesday, in the American session, and the announcement of the official data on stocks, where expectations indicate a decline of about 600 thousand barrels.

The American Petroleum Institute announced during the session yesterday, Tuesday, a decline in crude oil stocks in the United States of America, in the initial reading, by 816 thousand barrels in the last week ending on August 6, and in details, gasoline stocks fell by 1.14 million barrels, while stocks of distillates that Including heating and diesel fuel, about 673,000 barrels.

During this period, markets ignore market concerns about the impact of the outbreak of the new Delta strain on fuel demand around the world, despite the restrictions imposed by the second largest oil consumer in the world (China) on travel, which prompted Goldman Sachs to reduce its forecast for fuel demand by one million. barrels per day for the next two months.