Oil prices rise after big drawdown in US crude stocks allays demand concerns

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Home Business Oil prices rise after big drawdown in US crude stocks allays demand concerns 30-11-2022 11:32 AM Ammon News - Oil prices rose on Wednesday as a large drop in US crude oil stocks helped offset demand concerns. Brent, the benchmark for two thirds of the world’s oil, was trading 1.13 per cent higher at $83.97 a barrel at 10.57am UAE time. West Texas Intermediate, the gauge that tracks US crude, was up 0.86 per cent at $78.87 a barrel. US crude oil inventories fell by about 7.8 million barrels last week, sources said, citing data from the American Petroleum Institute.

Home Business

Oil prices rise after big drawdown in US crude stocks allays demand concerns

30-11-2022 11:32 AM

Ammon News - Oil prices rose on Wednesday as a large drop in US crude oil stocks helped offset demand concerns.

Brent, the benchmark for two thirds of the world’s oil, was trading 1.13 per cent higher at $83.97 a barrel at 10.57am UAE time. West Texas Intermediate, the gauge that tracks US crude, was up 0.86 per cent at $78.87 a barrel.

US crude oil inventories fell by about 7.8 million barrels last week, sources said, citing data from the American Petroleum Institute.

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