Hopes for higher demand were spoiled by information about an unexpectedly high increase in US oil reserves.
This was reported by the agency “Reuters” on Wednesday, May 6.
According to the media, by 7:23 GMT, futures for crude oil CLC1 in the U.S. West Texas market fell by 26 cents or 1.06% to $24.3 per barrel.
The price of WTI fell after the report showed that rough stocks in the U.S. rose by 8.4 million barrels. This is more than predicted.
At the same time, futures for Brent rose by 1 cent, or 0.03%, to 30.98 dollars per barrel.
“We are talking about normalization of supply and demand, but we still have a long way to go”, – commented on the situation with the raw materials strategy of the National Australian Bank Lachlan Shaw.