Global oil prices are falling on June 17 morning, after rising on June 16 in the light of declining crude inventories in the US, Report informs referring to Prime agency.

As of 8:53 (GMT+4), the price of August futures for the North Sea Brent crude oil blend decreased by 0.44 percent to $74.06 per barrel, the cost of July futures on WTI oil – by 0.36 percent, to $71.89.

On June 16, oil prices rose on the data on crude reserves in the US. Thus, the country’s Department of Energy reported that commercial oil reserves fell by 7.4 million barrels over the past week and reached 466.7 million barrels, with a forecast of a decline of 3.3 million barrels.