US crude and gasoline stock exchanges surged more than expected. Oil prices have plunged in the wake of fears of a reduction in global supply after Iran imposed sanctions on Iran this week.
According to US Department of Energy, November crude prices rose 5.8 million barrels. This was in the fourth quarter of the energy database. The previous week was 3.2 million barrels. This was to predict market prophecy.
431.8 million barrels The crude oil inventors in the US are 3 per cent more than the 5 year average this year.
The 1.8 mm barrel crude oil reserves are expected to drop by 1.8 barrels.
The oil companies came forward to boost oil production. OPEC is seeking to meet the energy crisis in the power sector, and the Allies decided to cut new production next year.
The West Texas Intermediate grew 1.6 per cent before the ECA report. The contract fell 1.3 per cent to $ 61.38 a barrel. Brent crude was down 0.8 percent to $ 71.58 a barrel. It rose to 2% in the session.
The worst loss in the last four years has been the worst concern over a reduction in anxiety because of the US siege in Iran. Global economic crisis in China, profit, price.
WTI declined at the lowest level and declined by 20.3 per cent in mid-October. Brent had fallen 17.7 percent compared to last month.