Global Oil Prices Rise

Oil prices rose on Thursday, ending a five-day losing streak, amid signs of stable demand in the United States, the world’s largest oil consumer.
اضافة اعلان
According to Bloomberg Economics, Brent crude futures rose by 20 cents, or 0.3%, to $67.09 per barrel.
West Texas Intermediate (WTI) crude, the U.S. benchmark, increased by 22 cents, or 0.3%, to $64.57 per barrel.

Oil markets received support from a larger-than-expected drop in U.S. crude inventories last week.
The U.S. Energy Information Administration (EIA) reported on Wednesday that crude oil inventories fell by 3 million barrels to 423.7 million barrels in the week ending August 1, significantly exceeding analysts’ expectations of a 591,000-barrel decrease.

— (Petra)