Friday, June 8, 2018

WTI and Brent are falling for

WTI and Brent are falling for the second straight session

West Texas Intermediate quotes (WTI) and Brent reduced the second consecutive session on the background of the minimum since the global financial crisis, the growth rate of industrial production in China.

Futures for WTI crude oil in New York fell by 1.8%. Quotes Brent in London can be closed at its lowest level in more than two years. Industrial production in China rose in August by 6.9% on an annualized basis, according to the National Statistical Office on 13 September. In July, the figure was 9%, and, according to the median forecast of economists surveyed by Bloomberg, it was expected that it will be 8.8% in August.

Oil WTI October delivery in electronic trading on the New York Mercantile Exchange became cheaper by $ 1.64 - up $ 90.63 per barrel but on 9:01 MSK was trading at $ 91.20. October futures are close to the lowest level since May 2013.

The October oil contract Brent, which expire today on the London Stock Exchange ICE Futures Europe became cheaper by 90 cents - up to $ 96.21 a barrel. More actively traded November contract fell 65 cents to $ 97.31. October futures are close to the lowest level since June 28, 2012. Libya has increased oil production to 870,000 barrels a day, according to the National Oil Corp.

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