A 1.15% drop in Brent crude, following the report of the International Energy Agency

A 1.15% drop in Brent crude, following the report of the International Energy Agency

 


A 1.15% drop in Brent crude, following the report of the International Energy Agency


I wrote - Marwa Al-Bandari: Oil prices fell during Thursday's trading; Following the report of the International Energy Agency, in which it highlighted its expectations for price stability during the coming year, in addition to the pressures formed by unofficial data; That showed an increase in US crude stocks.


And futures prices for Brent crude for December delivery fell by 1.15% to 56.29 dollars a barrel, while US Nymex crude for November delivery fell 1.40% to 50.57 dollars a barrel, at exactly 1:42 pm. in Cairo time.

In its report issued today, the International Energy Agency said that oil prices will remain unchanged during the next year, given the expectations of growth in supplies of non-OPEC producers at the same rate of global demand growth.


On the other hand, the American Petroleum Institute data showed, US oil inventories increased by 3.1 million barrels over the past week, coinciding with a drop in gasoline inventories by 1.6 million barrels.

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