Oil falls after release of data on unexpected growth of its reserves in US

World oil prices showed a decline on Wednesday morning after four trading sessions of growth. Markets are evaluating data from the American Petroleum Institute (API) on an unexpected increase in US inventories for the week, Report informs.

The price of October futures for Brent crude fell by 0.41% to $82.91 per barrel, and September futures for WTI dropped by 0.44% to $79.28.

Quotations discontinued the four-day growth, while the cost of oil rose by 4.3% and 5.7% for both brands, respectively.

On Wednesday night, the API published its assessment of the dynamics of commercial oil reserves in the US. So, for the week to July 21, the indicator unexpectedly rose by 1.3 million barrels, although a decrease of 2 million was expected.

Official statistics will be published by the Energy Department of the country in the evening. Analysts are now waiting for the Department to report a 2.4 million barrel drop in inventories, as well as a report on the dynamics of strategic reserves, oil production, distillates and gasoline inventories over the past week.