Oil is getting cheaper as U.S. reserves rise and concerns over coronavirus returns
Crude oil is falling this morning on the news of an increase in reserves in of the United States. At 9:29, the Brent brand was down 1.50% to... $29.50, WTI - by 0.74% to $25.59. Investor sentiment has deteriorated under the influence of API data, who came out on Wednesday. According to the Institute's calculations, the volume of stocks in the States increased by 7.58 million barrels last week, which turned out to be above the projected estimates. Analysts expected this indicator to be as high as 5 million. Tonight the data will also be available on reserves from the Ministry of Energy - experts believe they will amount to +4.1. million. Oil dynamics are also negatively affected by anxiety. players on a possible second wave pandemics after quarantine restrictions have been eased. National Institute of Allergy and Infectious Diseases The U.S. said that too fast a quarantine waiver could lead to new outbreaks of disease and worsen the condition of the world economy.