Business

Oil rose in price on data on a decrease in US inventories

Oil rose in price on data on a decrease in US inventories

Benchmark oil prices continued to rise steadily on Wednesday after the release of the US Department of Energy data on a significant decline in oil reserves in the country last week.

The cost of January futures for Brent oil on the London ICE Futures exchange is $40.46 per barrel, which is $0.75 (1.89%) higher than the price at the close of the previous session.

The price of WTI crude oil futures for December in electronic trading on the New York Mercantile Exchange by this time is $38.41 per barrel, which is $0.75 (1.99%) higher than the level of the previous session.



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