Oil prices continue to increase after rising the day before to their highest levels since late July on data on a sharp decline in US stocks, Interfax reports.
Commercial stocks of raw materials in the United States decreased by 6.4 million barrels last week, the country's energy ministry said. Their volume declined for the seventh consecutive week. Gasoline stocks decreased by 1.9 million barrels, distillates – by 1.7 million barrels.
The cost of Brent November futures on the London stock exchange ICE Futures by 8:15 am Kyiv time on Thursday amounted to $75.66 per barrel, which is $0.2 (0.27%) higher than the price at the close of the previous session. As a result of trading on Wednesday, these contracts rose by $1.86 (2.5%) to $75.46 per barrel, the maximum since July 30.
The price of WTI October futures in electronic trading on the New York Mercantile Exchange (NYMEX) by this time was $72.79 per barrel, which is $0.18 (0.25%) higher than the final value of the previous session. On Wednesday, the value of these contracts increased by $ 2.15 (3.1%) to $ 72.61 a barrel, also the highest value since July 30.
According to the US Bureau of Safety and Environmental Affairs, after Hurricane Ida, the capacity that provides 29.5% of oil production in the US Gulf of Mexico has not yet been restored.