By: Mahmoud Gamal
Dubai-Mubasher: The oil prices continued to rise early Thursday at the Asian markets after the US government confirmed that crude reserves weakened for the ninth week on a row, according to analysts.
Brent crude oil was up 0.45% or 12 cents to reach $47.38 per barrel by 3:50 GMT.
The US crude oil rose by 0.35% or 16 cents to settle at $45.90.
Brent crude oil reached above the level $46 a barrel, however, positivity was not confirmed. If oil prices settle above this level for several sessions, an upward performance will be seen, said technical analyst of oil markets Hany Matar.
Translated by: Ingy ElSafy