The strengthening of the dollar also pushes down crude oil prices. Expectation due to OPEC+ decision.
The prices of Petroleum fell on Wednesday as industry data showed a rise in crude and fuel inventories in USA since he dollar US was strengthening, indicating that demand is coming under pressure.
The futures of Brent crude oil They fell $1.11, or 1.3%, to $82.05 a barrel at 0955 GMT. US crude oil futures West Texas Intermediate (WTI) They fell $1.15, or 1.5%, to $77.23 a barrel.
Both benchmarks fell slightly in the previous session due to signs of less supply shortages and lower global demand for Petroleum that emerge from a forecast report of the Energy Information Administration (EIA) published on Tuesday.
crude oil stocks in USA increased by 509,000 barrels in the week ending May 3, market sources reported citing figures from the American Petroleum Institute (API). Inventories of gasoline and distillate fuels also increased.
Official US government data on inventories will be released at 14:30 GMT. Analysts polled by Reuters expect crude oil inventories USA have fallen by around 1.1 million barrels last week.
Also weighing was the strength of the US dollar, which makes the purchase of Petroleum for holders of other currencies.
Hopes for a ceasefire in Loop They have also put pressure on oil prices in recent sessions, with some analysts claiming that the risk premium had decreased in parallel.
Cautious expectations of supply cuts by the Organization of Petroleum Exporting Countries and its allies (OPEC+) before the June 1 meeting also weighed on the markets.
Russian Deputy Prime Minister Alexander Novakdeclared on Tuesday that OPEC+ had not discussed an increase in oil production Petroleum.
Source: Ambito
