Oil prices stabilized during trading today, Wednesday, before the release of US stockpiles data, amid expectations of a decline, and with the follow-up to the latest developments in the Corona pandemic.
(Commonwealth Bank) said in a research note cited by Reuters that oil prices have relatively recovered amid hopes that the growth in demand for crude will exceed the levels of supply growth despite the outbreak of the strain. Corona virus delta.
In terms of trading, the futures contracts for Brent crude, the standard for October delivery, settled at $70.66 a barrel.
The US NYMEX crude contracts for September delivery were also stable today, recording $68.27 a barrel.
The data of the American Petroleum Institute revealed that oil stocks in the United States fell by 816,000 barrels for the week ending on August 6th.
The official US inventory data will be released later today by the Energy Information Administration.
