2024-04-28 05:27:12
Oil prices began to decline on Wednesday afternoon. The situation in the Middle East remains the focus of traders. In addition, they are waiting for data from the Ministry of Energy on energy reserves in the United States.
As Day.Az reports with reference to Interfax, estimates by the American Petroleum Institute (API), published on April 23 in the evening, showed a decrease in oil reserves in the United States in the week ending April 19 by 3.23 million barrels. The consensus forecast provided by Trading Economics suggested an increase of 1.8 million barrels.
June Brent futures fell in price on the London ICE Futures exchange by $0.38 (0.43%), to $88.04 per barrel. By this time, June futures for WTI had fallen in price on the NYMEX exchange by $0.51 (0.61%), to $82.85 per barrel.
Quotes are supported by improved demand prospects after the release of statistical data on a decline in business activity in the United States, which may become an additional incentive for the Federal Reserve to lower interest rates, writes Trading Economics.
The DXY index, which measures the value of the US dollar against six major world currencies, rose 0.2%, reducing the attractiveness of commodities quoted in the US currency.