Oil becomes cheaper on data on the growth of reserves in the USA

World oil prices are falling on Wednesday morning after the release of the American Petroleum Institute (API) data on the unexpected growth of reserves of raw materials in the United States, RIA Novosti reported, citing trading data.

The cost of July futures for the North sea oil mixture of Brent decreased by 0.31% to 78.19 dollars per barrel. The price of June futures for WTI crude oil decreased by 0.28% to 71.11 dollars per barrel.

According to API, during the working week ended on May 11, oil reserves in the US increased by 4,854 million barrels. At the same time, analysts expected a decrease in reserves by 763 thousand barrels. In the previous week, the figure fell by 1.85 million barrels, according to the same organization.

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2014