World oil prices on Thursday, May 11, demonstrate a positive trend in the published on Wednesday data on the reduction of stocks in the US, according to the data of trades.

As of 8:11, the price of July futures for the North Sea oil blend of Brent brand grew by 0.48% to $ 50.46 per barrel. The price of June futures for WTI crude oil increased by 0.55% - to 47.59 dollars per barrel.

Earlier it became known that commercial oil reserves in the US (excluding the strategic reserve) for the week ended May 5 fell by 5.2 million barrels, or 1% - to 522.5 million barrels. At the same time, analysts expected a decrease of 1.786 million barrels, or 0.33% - to 526.014 million barrels.

"The statistics data suggest that oil consumption remains stable," the newspaper of The Wall Street Journal, Commonwealth Bank of Australia commodities analyst Viveka Dhara.

However, traders are still a significant excess of "black gold" in the market.

"The excess supply still remains large and, probably, it will be difficult to reduce because of the recovery of production in Libya and Nigeria," - the newspaper quotes the analyst of SCI International Gao Jiang.