Oil falls in price after rising for 2 days

Global oil prices fell on October 21 morning after rising for two trading days, trading data showed, Report informs referring to Prime agency.

As of 8:40 (GMT+4), the price of December futures for Brent crude oil fell by 0.17% to $85.67 per barrel, while the price of December futures for WTI crude fell 0.01% to $83.41 per barrel.

On October 20, oil rose strongly after the statistics of the US Department of Energy on its reserves, which over the past week fell by 0.4 million barrels to 426.5 million barrels. At the same time, analysts expected an increase in the indicator by 1.9 million barrels.

The EIA numbers were "undoubtedly on the bullish side," Tariq Zahir, managing member at Tyche Capital Advisors, told MarketWatch. The data helped alleviate an "overbought situation" in crude oil, he said.