Oil prices slightly grow

Global oil prices on October 14 morning didn’t show any bright dynamics.

The price of December futures for Brent crude rose by 0.2% to $94.76 per barrel, November futures for WTI - by 0.2% to $89.31.

Markets are reacting to statistics on commercial reserves and production of this type of raw material in the US. For the week ending October 7, inventories rose by 9.9 million barrels at once, to 439.1 million, the highest since the end of July 2021. At the same time, the strategic oil reserve in the country decreased to 408.7 million barrels, the lowest level since June 1984.

Oil production in the US for the week fell by 100,000 barrels per day, to 11.9 million barrels per day. In addition, Baker Hughes, an American oil and gas service company, is expected to publish weekly statistics on the number of active oil rigs in the US later on October 14. During the week to October 7, their number decreased by two - to 602 units.

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