Oil prices fall by over 1%

As of early morning May 19, the world oil prices continue to go down, with the decline starting the day before on the assessment of a possible increase in the supply of crude from Iran, according to trading data.

Report informs citing Prime that as of 9:02 am (GMT +4) the price of July futures for North Sea Brent crude oil mixture fell by 1.18% to $67.9, July futures for WTI dropped by 1.24%, to $64.69 per barrel, and June futures for WTI went down by 1.16% to $64.73 per barrel.

Oil prices fell Wednesday morning on news of a possible increase in its supplies from Iran, in the event of successful negotiations with the United States. With the largest decline in oil prices, another 1.5% of global crude supplies could be realized in less than six months, although any increase in supplies from Iran is likely to be more gradual, according to CBA analysts.

Investors also drew attention to the data released on Wednesday by the American Petroleum Institute (API), according to which US oil reserves increased by 0.6 million barrels last week. On Wednesday, the US Department of Energy will also publish official data on oil reserves in the country. Analysts expect them to increase by 1.6 million barrels.