Oil is trading at level below $69 a barrel, since investors evaluate news about demand growth in the largest economy in the world, as well as confusing data on inventories in the US, Bloomberg reports.

Futures in New York on Thursday are relatively stable after they recovered some losses during previous trading session and rose by 1%. Before that they lost 1,5% after report showed surprising increase in the US inventories, as well as decline in stored quantities of gasoline at the same time due to high fuel demand. Experts explain this situation by higher load of oil processing plants in the country that will cause further inventory accumulation.

This month oil price fell by 7% already amid rising tension in trade relations between China and the US, which may influence global growth. Despite of global supply disruption threat, investors are evaluating consequences of decision on output gains that OPEC took during last meeting and its influences on the market.

WTI oil with August delivery is trading for $68,68 a barrel. Brent oil costs $72,77 a barrel today. Futures in Shanghai grew by 1% to 486,4 yuan.