Oil prices fall ahead of Fed and ECB meetings

World oil prices fell on Wednesday afternoon ahead of the meetings of the world's financial regulators, which will affect commodity markets, Report informs.

The price of July futures for Brent crude fell by 0.52% to $80.17 per barrel, and June futures for WTI dropped by 0.23% to $76.91.

Meanwhile, the markets are waiting for the publication of official statistics on oil reserves in the US. Analysts believe that in the week to April 21, stocks in the country fell by 1.66 million barrels after falling by 4.6 million barrels a week earlier.

In addition, gasoline inventories are expected to decline by 1.5 million barrels after a rise of 1.3 million and distillate inventories are expected to fall by 1.02 million barrels after a decrease of 0.35 million.