Brent oil price falls below $48
10:02, 8 June 2017
ASTANA. KAZINFORM The cost of the Brent futures contract for delivery in August 2017 on the ICE Exchange in London has fallen by 4.31 percent down to $47.96 a barrel, according to the trading session results, Kazinform has learnt from TASS .
Brent crude oil price falls below $48
Last time it was on May 5, 2017 when the oil price were below this point.
The decline in oil price quotations speeded up after publication of the information on commercial crude oil stocks in the United States. According to the US Department of Energy, the stocks have increased up to 513.2 million barrels or by 3.3 million for the week from May 26 to June 2. However, the experts expected the inventories would reduce by 3.5 million barrels.