Oil rises after US inventory data, Brent above $82

Oil prices closed higher today, Dec. 21, following US inventories data and optimism about the demand outlook.

 

According to US Energy Information Administration data, crude oil inventories fell by 5.9 million barrels in the week ended Dec. 16, against the expectations for an increase of 2.5 million barrels.

 

Gasoline stocks in the United States rose by 2.5 million barrels, distillate stocks declined by 200,000 barrels.

 

Oil prices also found support in optimism about the recovery of demand in China, in addition to data showing a decline in Russian exports of crude following the G7 and EU sanctions.

 

Brent crude futures for February delivery rose 2.7%, or $2.11, to settle at $82.20 a barrel.

 

WTI crude for February delivery increased by 2.7%, or $2.06, to reach $78.29 per barrel.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

International Market Indices

DOW JONES
44,296.51
426.16 0.97 %
more

Commodity Price

 
Brent Crude Oil
74.66
(0.51) (0.68%)
Nymex
70.73
(0.51) (0.71%)

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request