Oil prices slightly recover after hitting lows since August

Oil prices recovered on Friday after hitting their lows since August following the previous session.

The cost of December futures for Brent on the London ICE Futures Exchange amounted to $84.2 per barrel on Friday, which is $0.13 (0.15%) higher than at the close of the previous session, Report reports citing Interfax. .

WTI oil futures for November in electronic trading on the New York Mercantile Exchange (NYMEX) rose in price by $0.21 (0.26%) by this time to $82.52 per barrel.

The day before, oil fell in price as prospects for weakening global demand outweighed concerns about supply constraints. In particular, data from the US Department of Energy on Wednesday showed a significant reduction in demand for gasoline. Its reserves jumped by 6.48 million barrels in the United States last week, the ministry reported. At the same time, oil reserves decreased by 2.22 million barrels.

The consensus forecast of analysts surveyed by S&P Global Commodity Insights included maintaining gasoline reserves at the same level and reducing oil reserves by 1.4 million barrels.