Oil sank almost 4% and Brent pierced the $100

Oil sank almost 4% and Brent pierced the 0

In this way, the oil Brent fell 3.6% and it was agreed in u$s97according to figures reported in the New York Mercantile Exchange, and the WTI fell 3.9% and traded in $90.80.

US commercial oil stocks rose last week to the surprise of analysts who expected a slight drop, according to Wednesday data from the Energy Information Agency (EIA).

In the week closed last Friday, the country accumulated 426.6 million barrels4.5 million barrels more than seven days before. Analysts had expected reserves to fall by 1.5 million barrels.

Meanwhile, the Naphtha stocks increased by 200,000 barrels last week and they are about 3% below the average of the last five years for this time of year. And refineries operated at 91% of their installed capacity last week.

Oil prices fell earlier in the week as weak manufacturing data from China and Japan weighed on the demand outlook, as investors braced for this week’s meeting of OPEC officials and other major producers. of crude on the adjustments to the offer.

Source: Ambito

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