Oil prices are recorded at $ 63.06 for Brent and $ 59.70 for US crude

Oil prices recorded today, 63.06 dollars a barrel for Brent crude futures, which are down by 87 cents, or 1.4%, and US West Texas Intermediate crude futures recorded 59.70 dollars a barrel, down by 82 cents, or 1.4%.

 

Today, oil prices witnessed a decrease of more than 1%, to continue the declines recorded during the night, due to fears that the refineries will take time to resume operations after a wave of freezing weather in the American South, which caused a gap in demand, while supplies are expected to rise. OPEC +.

 

The two benchmarks rose to a 13-month high on Thursday, driven by the historic freezing weather in the southern states of America. While analysts' estimates indicate that very cold weather has halted up to a third of US crude production, attention is now shifting to the impact on refiners, according to Reuters.

 

The US Energy Information Administration reported yesterday that US crude inventories fell more than expected in the week ending February 12, before the cold weather, as inventories fell 7.3 million barrels to 461.8 million barrels, their lowest levels since March.