Oil falls in price amid rising US inventories and concerns about return of coronavirus

Oil falls this morning on news of rising stocks in United States. At 9:29 am, Brent was down 1.50% to $ 29.50, WTI - by 0.74% to $ 25.59. Investor sentiment deteriorated under the influence of data from the API, released on Wednesday. According to the institute's calculations, the volume of reserves in the United States last week increased by 7.58 million barrels, which turned out to be higher than predicted estimates. Analysts had expected this figure at the level of 5 million. Tonight, data on reserves from the Ministry of Energy - as experts believe, they will amount to +4.1 mln. Anxiety also negatively affects the dynamics of oil players regarding the possible onset of the second wave pandemics after the relaxation of quarantine restrictions. National Institute of Allergic and Infectious Diseases The United States said that quarantining too quickly could lead to new outbreaks of the disease and worsen the condition the world economy.