Oil prices stabilize amid growth in US inventories

Global oil prices on October 6 morning suspended growth after a two-day rally following the release of data on an unexpected increase in US crude inventories, according to trading data, Report informs referring to Prime agency.

As of 9:00 am (GMT+4), the price of December futures for Brent crude oil fell by 0.1%, to $82.64 per barrel, the price of November futures for WTI crude increased by 0.06%, to $78.98 a barrel.

Oil prices stabilized on October 6 morning after a two-day rally that began following the OPEC + meeting. So, on October 5, the price of Brent crude exceeded $83 per barrel - for the first time in almost three years. This is while the price of WTI oil for the first time since November 2014 exceeded $79 per barrel.

Investors are estimating the data recently released by the American Petroleum Institute (API) on US oil reserves over the past week, which rose by almost 1 million barrels. At the same time, analysts expected a decrease in the indicator by 0.3 million.