Oil is trading lower

This morning in New York futures for WTI were down -0.41% to $ 46.16 and Brent oil futures were down -0.57% to $ 48.45 per barrel. Thus, the black gold has fallen in value against the initial dollar strengthen, which continues to be held near three-weeks high. At the same time, published statistics indicated a growth in US oil stocks. The American Petroleum Institute said yesterday that the black gold reserves rose by 942 thousand barrels to 525.2 million for the week ending 26 August.

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