The price of the falls below 50 dollars the first time since December.
Yesterday it was reported that US weekly crude inventories reached to a peak together with a drop in oil exports to China last month.
The WTI oil price falling by 1.75% to 49.40 per barrel.
The price of oil Brent falls by 1.73% to 52.19 per barrel.
The Oil prices fall after the American Petroleum Institute reported of an increase of 9.9 million barrels in crude inventories in the US in the week that ended at February 10th.
Lots of interest around the oil on reassessment background that OPEC is expected to increase the oil demand in 2017 by 1.3 million barrels per day, mainly due to demand from China.
It’s still not known if US demand will grow in light of Trump’s statements that he intends to re-build the US However, at this point, OPEC predict that China will be the main factor in demand for oil.
The price of the Oil rises by 0.2%.
The WTI stands at a price level of 53.1 dollar per barrel and the Brent rising to a price level of 55.7 dollar per barrel.
Wall Street opened today (Thursday) the trading on a positive trend, following increases in Europe markets.
Also rising, the Oil and gold at the commodity exchanges.
Wall Street stock markets traded in a negative trend, led by the energy stocks following a drop in the oil prices.
The Oil traded with a mixed trend.
The price of the WTI oil goes down by 0.2% to a price level of 52.7 per barrel.
The price of Brent crude rising by 0.8% to 55.7 dollar per barrel.
The Oil price falling by 0.2%.
The WTI oil falls to a price level of 53.1 dollar per barrel and the price of Brent crude dropping to a price level of 55.4 per dollar a barrel.
A few hours before the inauguration of President-elect Donald Trump,a barrel of WTI oil increased by 1.2% to a price of 52.73 dollars per barrel.
The Oil prices are falling by 0.1%.
The WTI oil down to a price level of 52.3 US dollar per barrel and the Brent oil dropped to a price level of 55.4 US dollar per barrel.