Oil rises ahead of US stockpiles data

31/03/2021 Argaam

Drilling rigs

Oil prices climbed on Wednesday ahead of the OPEC+ meeting, and the release of data on US crude inventories.

 

International benchmark Brent crude was trading up 0.7% at $64.60 per barrel, at 9 am Makkah time.

 

West Texas Intermediate (WTI) crude rose 0.7% to $60.92 per barrel.

 

Meanwhile, data from the American Petroleum Institute showed that US crude oil stocks rose by 3.9 million barrels in the week to March 26.

 

The US Energy Information Administration data on inventories is due on later today.

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