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Oil prices change differently amid growing US output

June 22, 2017/ 14:36

New York. World oil prices are changing differently on June 22 amid the report about the growing volume of crude output in the US.

The price for August futures of Brent crude oil has increased by 0.02 percent to $44.83 per barrel as of 06:41 (GMT +4).

This is while the price for July futures of West Texas Intermediate (WTI) has dropped by 0.02 percent and stood at $42.52 per barrel.

The oil production in the US has increased by 0.21 percent or by 20,000 barrels per day over the week and stood at 9.350 million barrels per day, according to the US Energy Information Administration (EIA).

At the same time, the country’s commercial crude stocks (excluding the strategic reserves) have dropped by 2.5 million barrels or by 0.5 percent and stood at 509.1 million barrels, according to the EIA. This is while the analysts expected a less decrease of 2.106 million barrels or 0.41 percent, Trend agency reports.

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