Baku, Azerbaijan, August 24
By Leman Zeynalova – Trend:
World oil prices are volatile on Aug.24 ahead of the expected closure of platforms in the Gulf of Mexico due to the tropical storm.
The price for October futures of Brent oil has decreased by 0.02 percent to $52.56 per barrel as of 06:47 (UTC + 4).
The price for September futures of West Texas Intermediate (WTI) dropped by 0.14 percent and stood at $48.34 per barrel.
On Aug.22, oil prices grew amid declining US stocks. The country’s commercial crude stocks have dropped by 3.3 million barrels or 0.7 percent to 463.2 million barrels over the week ending Aug.18. These figures almost coincided with forecasts of investors, who expected the stocks to decrease by 0.74 percent or 2.45 million barrels to 463.05 million barrels.
However, oil output has grown in the US by 0.27 percent or 26,000 barrels per day to 9.528 million barrels during the reporting period.
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