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Oil rises in price, and Brent is at $76.38 a barrel

23.09.2021,10:57


September 23, Fineko/abc.az. Prices for oil of standard grades are increasing in Thursday’s trading after the publication of data about decline of reserves in the U.S.

According to U.S. Department of Energy’s weekly report, country’s commercial oil reserves decreased by 3.48 million barrels last week to 413.96 million barrels. Gasoline inventories grew by 3.47 million barrels to 221.62 million barrels. Commercial distillate reserves reduced by 2.55 million barrels to 129.34 million barrels.

By 09:15 am, at the London ICE Futures Exchange the November’s Brent crude futures rose by $0.19 (0.25%) up to $76.38 per barrel. Following the trading on 22 September, the price of Brent crude oil futures for November increased by $1.83 (2.46%) up to $76.19 per barrel.

By 09:15 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for November grew in price by $0.17 (0.24%) up to $72.40 per barrel. Following the trading on 22 September, the price of November’s WTI oil futures jumped by $1.74 (2.47%) up to $72.23 per barrel.

The American Petroleum Institute (API) earlier reported that oil reserves in the U.S. fell by 6.1 million barrels last week, gasoline by 432,000 barrels and distillates by 2.7 million barrels.

The API receives information from operators of refineries, oil storage facilities and pipelines.