Oil prices are falling on Tuesday ahead of the publication of information on US reserves, Report informs via Interfax.
November Brent futures fell in price on the London ICE Futures exchange by $0.38 (0.41%), to $92.91 per barrel.
November futures for WTI fell in price on the New York Mercantile Exchange NYMEX by $0.34 (0.38%), to $89.34 per barrel.
The market is being weighed down by demand uncertainty following the September meeting of the Federal Reserve, which left its benchmark interest rate at its highest level in 22 years - 5.25-5.5% per annum - and signaled that it expects to raise it again this year.
Meanwhile, oil demand in China increased by 0.3 million barrels per day last week to 16.3 million b/d, partly due to the recovery in demand for jet fuel for international transport, City Index senior financial markets analyst Fiona Cincotta told MarketWatch.
The American Petroleum Institute (API) will publish data on the weekly dynamics of oil reserves in the country on Tuesday, and the Ministry of Energy will present official statistics on Wednesday. Traders on average expect a reduction in oil reserves over the week by 1.65 million barrels, Trading Economics indicates.
