Oil prices continue to fall – BLITZ



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Oil prices continue to decline as trade was volatile in the early hours of the Asian session on Thursday, according to Reuters.

The WTI futures on American crude oil with delivery in August are cheaper the minimum of 0.07% to 68.71 dollars per barrel. Brent was down 0.23% to 72.73 dollars a barrel.

The two most traded oil prices rose about 1% on Wednesday after the Energy Information Administration announced that gas reserves in the United States are downsizing with distillate stocks .

Oil production in the United States reached a record 11 million barrels a day, with only 1 million barrels since November, thanks to the rapid increase in shale oil yield

US inventories of gasoline fell 3.2 million barrels last week, while distillery stocks including diesel and fuel oil fell by 371,000 barrels.

Reuters survey conducted before data release, provided gasoline inventory remains unchanged Crude oil reserves in the United States rose 5.8 million leva last week, against a forecast of 3.6 million barrels

At the meeting of the Organization of Exporting Countries on Wednesday (OPEC) and other non-cartel producers have specified that the reduction agreement of the 39; offer is not strictly adhered to, which means that there is more oil on the market

Oil was cheaper last week than Saudi Arabia and the others Member States The OPEC and Russia increased their production until

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