Oil prices fall slightly

Global oil prices on September 8 morning showed a decline, Report informs referring to the auction data.

The price of November futures for Brent crude fell by 0.66% to $89.33 per barrel, October futures for WTI decreased by 0.78% to $86.19.

If the dynamics doesn’t change much, since the beginning of the week, prices may slightly increase after growing by 4.8% and 7.2%, respectively, a week earlier - due to expectations of a reduction in the decline in oil supplies to the market from Saudi Arabia and Russia.

Data from the US Department of Energy, published on September 7, have also influenced the trading. Commercial stocks for the week to September 1 decreased in the country by 6.3 million barrels against the forecast of a decrease of 2.1 million barrels and amounted to 416.6 million barrels. The value for the first time since the beginning of the year fell below 420 million. Gasoline stocks also decreased over the week.

Later on September 8, statistics from the US oilfield service company Baker Hughes on the number of active oil rigs in the US may affect the trading. For the week to September 1, their number has not changed and remained at around 512.