top of page
  • NEWS Desk Global

OIL PRICES RISE AFTER US CRUDE STOCKS FALL MORE THAN EXPECTED




On Wednesday, oil prices inched higher following the release of U.S. oil storage data, which showed a larger-than-expected draw in crude stockpiles as refiners increased output in preparation for the summer driving season.

Brent crude oil futures rose by 52 cents, or 0.63%, to $83.68 a barrel by 12:00 p.m. EDT (1600 GMT), while U.S. West Texas Intermediate crude futures climbed by 65 cents, or 0.83%, to $79.03 a barrel. According to the Energy Information Administration (EIA), U.S. crude inventories dropped by 1.4 million barrels to 459.5 million barrels in the week ending May 3, slightly exceeding analysts' expectations.

0 views0 comments

Comments


Commenting has been turned off.
bottom of page