The price of Brent crude oil fell below $31


Moscow. January 27. The prices for oil imports is reduced in the course of trading on Wednesday in anticipation of increasing fuel reserves in the U.S., reported Bloomberg.

Quotations of March futures on the mark Brent on London’s ICE Futures exchange at 11:16 MSK fell to $0,82 (2,58%) – to $30,98 per barrel.

The contract prices for mark WTI for March in electronic trading on the new York Mercantile exchange (NYMEX) by this time, decreased $1,06 (3,37%) to $a 30.39 per barrel.

Market participants expect the publication of data on volumes of stocks of oil in the United States. The Ministry of energy will publish them on Wednesday at 18:30 Moscow time.

According to analysts, inventories of crude oil rose by 4.4 million barrels last week. The current level of reserves by over 120 million barrels above the average for a given season over the past five years.

According to Tuesday data from the American petroleum Institute (API), the oil reserves in the U.S. last week jumped by 11.4 million barrels. API receives information from operators of refineries, storage tanks and pipelines on a voluntary basis.