The price of oil is falling for the second day in a row on data on the growth of stocks in the USA, as well as the situation around Hong Kong.
World oil prices of reference grades are declining for the second day in a row on US stock data.
So, on Thursday, May 28, the price of July futures for Brent crude oil drops by 2.45%, to 33.91 dollars per barrel. The cost of July futures for WTI crude oil is 3.41%, up to $31.69 per barrel.
According to the American Petroleum Institute (API), US oil stocks grew 8.7 million barrels last week.
The price reduction is taking place for the second consecutive session due to uncertainty ahead of the OPEC + meetings, which will be held on June 9-10.
Also, a new conflict between the US and China over Hong Kong is affecting the price of oil.
At the same time, a week ago, oil prices peaked since the beginning of spring.