Oil prices set new anti-records

Oil prices set new anti-records

Oil prices tumbled to a 7-month low on June 15 after gasoline inventories unexpectedly rose and crude stockpiles fell less than expected last week.

As of 14:43 (MSK), Brent for August settlement fell by 0.21% to $46.90 per barrel on the ICE Exchange in London. The July futures for WTI oil decreased by 0.47% to $44.52 per barrel at the New York Mercantile Exchange (NYMEX).

Futures were little changed in New York after slumping 3.7% Wednesday, the first drop in four sessions. Motor-fuel stockpiles expanded by 2.1 million barrels last week, the Energy Information Administration reported. Most analysts had forecast a decline. Crude output climbed while nationwide inventories fell less than predicted, Bloomberg reported.

U.S. crude stockpiles dropped by 1.66 million barrels last week, the EIA reported Wednesday. Inventories were forecast to decline by 2.45 million, according to the median estimate in a Bloomberg survey. Production rose by 12,000 barrels (%0.13) a day to 9.33 million barrels a day.

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