World oil prices are falling on Wednesday morning, investors evaluate the statistics of the American Petroleum Institute (API), testify to the trading data.
As of 12:54 AM USA time, the price of July futures for the North Sea Brent crude oil mix fell by 0.19%, to $ 30.91 per barrel, June futures for WTI crude oil – by 0.33%, to $ 24.49 per barrel.
Oil prices are falling on Wednesday amid recurring concerns about an imbalance in raw material demand and supply.
Bidders evaluate the latest API data, according to which oil reserves in the US last week grew by 8.4 million barrels.
And official data on this subject by the US Department of Energy will be published in the evening. Analysts predict that the agency will report an increase of 7.7 million barrels.
“We are talking about normalizing supply and demand, but we have a long way to go,” said Lachlan Shaw, head of the National Australia Bank’s commodity research department, quoted by Reuters.