Oil falls by US oil stocks

Oil falls by US oil stocks

Oil prices fell Wednesday January 25, on the back of data showing rising US inventories of crude, gasoline and diesel last week.

Futures prices fell ore "Brent" record by at 10:12 Moscow time (07:12 GMT) by 0.40% or 22 cents to $ 55.22 a barrel, while, US crude "West Texas Intermediate" fell by 0.43% or 23 cents to $ 52.95 a barrel.

Data from the Petroleum Institute that crude inventories rose in the United States increased by 2.9 million barrels for the week ending January 20 to reach 482.2 million barrels, beating analysts' forecasts, who pointed to the increase at 2.8 million barrels.

As, gasoline inventories rose by 4.8 million barrels, while analysts expected increase 498 thousand barrels, and coincided with the decline in the consumption of crude refineries increased by 335 thousand barrels per day.

The decline in oil prices fall, despite a decline in the dollar index, which tracks its performance against a basket of major currencies

Source: Agencies Fred Gaerli