Baku, Azerbaijan, Dec.14
By Leman Zeynalova – Trend:
World oil prices have started to fall on Dec.14 after the American Petroleum Institute (API) released its report on increasing US crude stocks.
The price of February futures for the Brent crude oil dropped by 1.04 percent and stood at $55.14 per barrel as of 01:31 EST. The price of January futures for West Texas Intermediate (WTI) oil has decreased by 1.09 percent to $52.40 per barrel.
API said that the US crude oil stocks rose by 4.7 million barrels over the week ending Dec.9. This is while the country’s gasoline stocks increased by 3.9 million barrels during the week.