Oil is declining after two days of growth

According to trading data, global oil prices moved lower on Thursday after rising by more than 3.5% in the previous two sessions.

November Brent futures fell 0.74% to $68.80 per barrel, while WTI contracts fell 0.7% to $64.49.

Prices were previously supported by data from the US Department of Energy: oil reserves decreased by 0.6 million barrels during the week, while growth was expected. Gasoline stocks decreased by 1.1 million, distillates – by 1.7 million.  All indicators turned out to be better than expected.

However, as analysts note, the market is balancing between multidirectional factors: the resumption of Kurdish oil exports by Iraq is putting pressure on, while geopolitical risks, including sanctions against Russian oil, continue to support quotes.