ONG: World Oil Prices Recede On U.S. Stock Reserve Growth
The price of oil on world commodity exchanges was falling Thursday morning on news U.S. stock crude reserves were growing.
The price of a September futures contract for WTI light sweet crude in electronic trading on Nymex was down 4 cents to $76.05 a barrel by 6:45 Moscow time. The price of a September futures contract for North Sea Brent blend had dropped 20 cents to $75.86 in London.
Oil prices dipped the day before on U.S. stock reserve news. September WTI contracts grew 51 cents to $76.99 a barrel, while September Brent contracts were up 7 cents to $76.06 per barrel.
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