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Oil prices fall Tuesday on concerns about the return of restrictive measures in a number of countries due to renewed rise in the incidence of coronavirus infection.
The cost of the September futures for Brent crude on the London ICE Futures exchange to 14:29 GMT on Tuesday is $42,71 per barrel, or $0.39 (0.9 per cent) below the price at the close of the previous session.
The WTI crude for August in electronic trading on the new York Mercantile exchange (NYMEX) by this time has fallen in price on $0,45 (1,11%) – to $40,18 per barrel.Gasoline consumption in the us over the three days of the celebration of independence Day this year was 22% lower than a year earlier, according to GasBuddy data.
Report on stocks of gasoline in the United States show a growth of 1 million barrels last week, the experts surveyed by Bloomberg. Oil reserves are expected to have declined 3 million barrels, distillates – have increased by 500 thousand barrels. The U.S. Department of energy will publish a report on energy stockpiles in the country last week Wednesday.
The uncertainty on the us oil market is linked with the decision of the Federal court of the district of Columbia to suspend the operation of the Dakota Access pipeline, which connects North Dakota and Illinois, to complete a new environmental review.