The price of oil today, 14 December; Brent 73 dollars and 68 cents
According to Mehr News Agency to According to Reuters, oil prices did not change much in the first hours of trading on Wednesday in Asia. Market participants are examining the high reserves of American crude oil and fuel, as well as the possibility of extending the OPEC+ production cut plan.
The price of a barrel of Brent North Sea oil today increased by 6 cents equal to 0.08% to 73 dollars and 68 cents. US Texas Intermediate West oil is also traded with 5 cents, equivalent to 0.07% increase, to 69 dollars and 99 cents.
Brent oil experienced the biggest price increase in the last two weeks on Tuesday, which was equal to 2.5%.
The American Petroleum Institute announced that the country’s crude oil reserves increased by 1.2 million barrels last week. Gasoline inventories also rose by 4.6 million barrels despite increased demand over the Thanksgiving holiday. The official information will be announced today by the US Energy Information Administration. Reuters analysts predict that crude oil reserves have increased by 700,000 barrels and gasoline reserves by 639,000 barrels.
The possibility of extending the production cut plan of the OPEC+ coalition until the end of the first quarter of this year has also supported the oil price. The meeting of this coalition will be held on Thursday. OPEC+ is looking for a gradual increase in oil supply next year.
Investors are also monitoring tensions in the Middle East due to its impact on oil producing countries in the region. On Tuesday, the Zionist regime announced that if the ceasefire is broken, it will return to war with Hezbollah, and its attacks will target the depth of Lebanon and its government.
The conflict in Syria between the terrorists and the government forces of this country continues.
