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Oil prices continue to decline due to the emergence of data on US oil inventories

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Oil prices continue to decline due to the emergence of data on US oil inventories

By عبد السلام

Published: August 4, 2022

Oil prices continue to decline today, Thursday, August 4, 2022, following a drop in crude prices yesterday to their lowest levels in six months during the previous session, after the release of U.S. oil inventory data.

Yesterday, Wednesday, oil prices fell by about 4% after a surprise increase in crude inventories in the United States, as data showed a rise in crude stockpiles there by 4.5 million barrels in the week ending July 29, contrary to expectations.

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