Oil prices are declining on Thursday morning on the data on the weekly increase in inventories of this energy resource in the United States.

The cost of June futures for Brent crude oil on the London exchange ICE Futures by 8:10 Moscow time on Thursday is $103.76 per barrel, which is $1.56 (1.48%) lower than the price at the close of the previous session. At the end of trading on Wednesday, these contracts rose by $0.33 (0.3%) to $105.32 per barrel.

The price of WTI oil futures for June at the electronic trading of the New York Mercantile Exchange (NYMEX) is at this time $100.62 per barrel, which is $1.4 (1.37%) less than the final value of the previous session. The day before, the cost of these contracts increased by $0.32 (0.3%) to $102.02 per barrel.

As it became known from the report of the U.S. Department of Energy, commercial oil reserves in the United States last week increased by 691 thousand barrels. Meanwhile, gasoline reserves in the country decreased by 1.57 million barrels, distillates – by 1.45 million barrels.

Meanwhile, another factor in the decline in quotations may be traders’ concern about demand, which is associated with the outbreak of coronavirus in China.