Today, Wednesday, oil prices increased in an effort to recover amid market anticipation for news on US crude stockpiles.
American crude futures “West Texas Intermediate” increased by 0.65% to $83 per barrel by 10:02 Moscow time, up from yesterday’s closing price of $82 per barrel.
While Brent crude futures gained by 0. 15% to $90.10 per barrel, the contracts completed trading on Tuesday at $90.03.
A top US official, on the other hand, claimed yesterday that US President Joe Biden will announce on Wednesday an unprecedented release of 15 million barrels from the country’s strategic oil reserves into the market.
The current batch of oil from the strategic petroleum reserves, the official continued, completes the pumping of 180 million barrels that had been announced in reaction to high prices in the spring.
Source: Bloomberg and RT.
oil prices were high before American data
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