Oil Prices Rise Slightly as Black Gold Reserves Decline

Oil prices have seen a slight increase in today’s auction following the release of data by the American Petroleum Institute regarding a decline in black gold reserves.

As reported by Bloomberg, global futures for Brent crude have risen by 0.13% to $84.14 per barrel at 07:48 Moscow time. Additionally, futures for US West Texas Intermediate crude oil have also seen a 0.2% increase, reaching $79.8 per barrel.

The American Petroleum Institute reveals that U.S. commercial oil inventories have decreased by 2.4 million barrels for the week ending on August 18th.

It is important to note that these statistics are based on stock estimates and the official data from the US Department of Energy will be released later today.

Source: Prime