Global oil prices declined slightly on February 16 morning amid some easing of supply concerns, Report informs.
The April futures for Brent fell by 0.17% to $93.12 per barrel, and the March futures for WTI fell by 0.07% to $92 per barrel.
On February 15, a representative of the Russian Defense Ministry announced the return of the Russian armed forces to their places of permanent deployment at the end of the exercises. The markets took it as a certain détente around Ukraine. Fears of interruptions in the energy supply chain have eased somewhat.
In addition, investors are evaluating data on oil reserves in the United States. The American Petroleum Institute (API) reported that over the past week, inventories fell by 1.076 million barrels. Analysts predicted a decrease in the index by 1.769 million barrels. Now the markets are waiting for official statistics from the US Department of Energy.