Crude oil fell on Thursday, halting forecasts for a less severe winter in the United States.
Winters are expected to be below average in most parts of the United States, according to estimates from the National Oceanic and Atmospheric Administration released Thursday morning.
“The report, which describes the dry and hot conditions in South and East America, puts pressure on campus,” said Bob Jacker, director of energy futures in Mizuho.
Brent crude fell $ 1.21 to $ 86.10 after reaching a session high of $ 2018. October high. US crude (WTI) closed at $ 0.92 to $ 82.50.
Prices soared Wednesday to a three-year low at a storage center in Cushing, Oklahoma, as the U.S. Energy Information Administration announced severe oil and fuel reserves. [EIA/S]
Brent prices have risen more than 60% this year due to a slow increase in supply by the Organization of the Petroleum Exporting Countries (OPEC +). Switch to oil.
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