Oil prices decline slightly

Global oil prices fell slightly on July 6 morning amid concerns about demand and expectations of a decline in commercial stocks in the US, reported from the auction data.

The price of September futures for Brent crude fell by 0.34% to $76.39 per barrel, August futures for WTI decreased in price by 0.13% to $71.7.

In general, investors tend to avoid risk due to concerns about the economy. Negative business statistics published this week supported traders' concerns about the prospects for recovery, which negatively affects oil demand forecasts.

At the same time, investors are paying attention to data from the American Petroleum Institute (API) on US commercial reserves. According to the organization, published on July 6 night, for the week to June 30, the figure fell by 4.4 million barrels.

Official statistics will be published by the US Department of Energy later on July 6. Analysts are forecasting a decrease of only 1 million barrels after falling by 9.6 million a week earlier.





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