Crude oil prices fell on Thursday to $86.27 per barrel, continuing the dynamics of yesterday. Yesterday, the quotes fell sharply from the $90 area on the background of data on the growth of crude oil reserves in the United States. According to data from the US Department of Energy, in the week ended April 12, oil reserves increased by 2.7 million barrels, reaching 460 million barrels, which was almost twice as high as expected. However, today, during the day, the oil market managed to stabilize and raise quotes to $87.50 per barrel. Prices were supported by the introduction of new sanctions by the Biden administration on oil exports from Venezuela after President Nicolas Maduro failed to fulfill a promise to hold national elections. Oil exports from Venezuela increased by 12% and reached about 700 thousand barrels per day in 2023 after the easing of some US sanctions against the country's oil industry. Reports of the US imposing new oil sanctions against Venezuela have also increased geopolitical tensions in the Middle East, which traditionally supports the market.
QUICK LINKS
Contact Us 
