Oil Prices Rise as U.S. Crude Inventories Decline

Oil prices rose by nearly 1% during early trading on Wednesday, supported by a decline in U.S. crude stockpiles.

According to Bloomberg News, Brent crude futures increased by 61 cents to reach $68.05 per barrel. Meanwhile, West Texas Intermediate (WTI) crude rose by 60 cents, or 0.94%, to $64.27 per barrel.اضافة اعلان

Market sources on Tuesday, citing data from the American Petroleum Institute (API), reported that U.S. crude inventories fell by approximately 4.6 million barrels last week.

Official U.S. government data on oil inventories is expected to be released later today, with analysts forecasting an average decline of 800,000 barrels in crude stockpiles for the past week. — (Petra News Agency)