After consecutive rise, oil prices fall

A reduction in oil prices was seen at the end of the last Tuesday (23), after a series of consecutive days with gains above 5%. The reason for this is the expectation that reports from the Department of (DoE), which will be released on Wednesday (24), an increase in commodity inventories in the United States.

In this way, prices have moved away from the highest levels of since the instability caused by the pandemic. On the Stock Exchange New York Goods (Nymex), West Texas Futures Contracts Intermediate (WTI) for the month of August ended the day down 0.88%, the $40.37 a barrel. At ICE in London, Brent contracts for the same ended down 1.05%, at $42.63 a barrel.

It is worth remembering that the U.S. DoE reports disclose the weekly number of oil stocks in the country, which makes investors be afraid.


8 thoughts on “After consecutive rise, oil prices fall

Leave a Reply