Oil prices rise on US crude inventories data

Oil prices rise on US crude inventories data

Mubasher: Crude oil inventories in the United States dropped 4.143 million barrels last week, as shown by the data of the Energy Information Administration (EIA).

The EIA’s weekly report indicated that the total American crude oil inventories reached 432.4 million barrels.

Meanwhile, gasoline inventories decreased by 2.271 million barrels, and distillate stocks went down by 2.101 million barrels.

Nymex crude oil prices rose by 0.11% to 66.43 per barrel, while Brent jumped 0.75% to 76.45 a barrel.

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Source: Mubasher

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