New York/London (dpa -AfX) – Oil prices moved little on Wednesday and thus did not continue the clear losses from the previous day. A barrel (159 liters) of the North Sea variety Brent for delivery in October cost $ 67.15. That was seven cents less than the day before. The price for a barrel of the US variety WTI also fell slightly by six cents to $ 63.19.
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Oil prices were supported by the recent development of oil reserves in the USA. The American Petroleum Institute (API) interest association had recorded a decline in raw oil by one million barrels last week. Falling oil reserves in the largest economy in the world usually cause buoyancy in the notations.
In the afternoon, the official data of the US government to the American oil reserves is expected. These are greatly observed on the market and could provide new impulses.
On Tuesday, the oil prices fell more than one dollar per barrel-because of a general uncertainty on the financial markets after the US government increased the pressure on the US Federal Reserve Fed. On the oil market, the aggressive customs policy of the US government also remains a determining topic.
In order to persuade Russia in the Ukraine War, the government in Washington with India is taking on an important trading partner of the Kremlin. US President Donald Trump ordered in early August that additional tariffs of 25 percent come into force on goods from India on Wednesday. A high-ranking government official confirmed to the German Press Agency that the measure comes as announced.
Raw material expert Vandana Hari from the Vanda Insights analysis house, however, did not recognize any major care worries on the oil market. She pointed out that there was no instruction from the Indian government to stop the Russian crude oil purchases ./Jkr/stk