World Oil Prices Pushed Down by Growing U.S Stock Reserves

July 27, 2011
The price of oil on world commodity exchanges was falling Wednesday morning as U.S. crude stock inventory rose.

The price of a September futures contract for WTI light sweet crude in electronic trading on Nymex was down 50 cents to $99.09 a barrel by 05:55 Moscow time. The price of a September futures contract for North Sea Brent blend was off 3 cents to $118.25 in London.

The day before, September WTI contracts rose 39 cents to $99.59 a barrel, while September Brent contracts rose 34 cents to $118.28.

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