The price of oil falls a second day in a row on the data about growth of stocks in the United States, as well as the situation around Hong Kong.
World oil prices reference marks are reduced for the second consecutive day on data on stocks of raw materials in the United States.
So, on Thursday, may 28, price of July futures on Brent crude is falling by 2.45%, to 33.91 USD per barrel. The cost of July futures for WTI – by 3.41% to 31.69 dollar per barrel.
According to the American petroleum Institute (API), oil stocks in the U.S. last week rose by 8.7 million barrels.
The price decline is the second consecutive session due to uncertainty ahead of the OPEC meetings which will be held June 9-10.
Also the price of oil is affected by the new conflict, the US and China because of Hong Kong.
In this case a week ago, oil prices peaked in the beginning of spring.
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