Brent crude oil prices were down Thursday, as US oil stocks decreased less than market expectations at a time when the US Federal Reserve warned of a delayed economic rebound and stifled oil demand.
International benchmark Brent crude was trading at $41.43 per barrel at 0632GMT for a 0.8% decrease after closing Wednesday at $41.77 a barrel.
American benchmark West Texas Intermediate was at $39.55 per barrel at the same time, down 0.95% after ending the previous session at $39.93 a barrel.
Prices dropped as US Federal Reserve officials warned of delayed economic recovery, and on data of a slowdown in market activity in September.
New restrictions by some European countries, including the UK and Germany against the spread of the coronavirus, also contributed to the downtrend price trend.
Prices were also negatively affected after data released by the country's Energy Information Administration (EIA) showed that commercial crude oil inventories in the US fell by 1.6 million barrels last week relative to the market expectation of a 2.3 million-barrel decrease.
Libya’s return to the oil market after an eight-month hiatus, which brought nearly 1 million barrels per day of crude oil back to the market, further curbed oil prices while raising oversupply fears.
See all the news
All
როგორ მოხვდა 17 წლის ანასტასია ლელაძე ჰარვარდში? - ანასტასია ლელაძე ქალების ნარატივში
"Literally the whole village was waiting for the first harvest of strawberry" - Kvitsiani family from Svaneti
Putin imposes visa restrictions on citizens from 'unfriendly' countries
BMG-ს მედია რუბრიკა: #პროფესიონალი - გიორგი მიქაია
Business Leaders Council by USAID and Georgian Business
ბინების ქირის ფასი 50%-მდე გაიზარდა
DriveWealth-G&T Cooperation
"Today we are all Ukrainians"- Zurab Pololikashvili
Tourism is the main bridge for building understanding - ZURAB POLOLIKASHVILI
FAQ’s and Analysis on Lari & FDI - Interview with Fady Asly
მინერალური და მტკნარი წყლის ფასები ქართულ ბაზარზე
China continues to push competitors out of the global walnut market
Moscow to Host First Meeting of Turkish & Armenian Special Envoys on Jan 14
Scientists Discover New Part of the Human Body
Turkey's Exports Soar by 33.7% to $21.5B in November
რა ხდება საკაბელო პროდუქციის ბაზარზე?
საქმის კურსი - 16.12.2021 - ღამის კოლაჟი
საქმის კურსი - 16.12.2021_17:40 / გადაცემა სრულად
#COVID19-ის ახალი შტამი: #ომიკრონი - რა სიმპტომები აქვს “ომიკრონს”?
#ForbesTalks: Interview with Oleg Ossinovski / ინტერვიუ ოლეგ ოსინოვსკისთან