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Saturday, November 23, 2024

Home Business Oil prices increase with higher demand in US

Oil prices increase with higher demand in US

by News desk
March 31, 2023
in Business

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Oil prices increased on Thursday amid higher demand for crude in the US. International benchmark Brent crude traded at $77.68 per barrel at 9.15 a.m. local time (0615 GMT), a 0.12% increase from the closing price of $77.59 a barrel in the previous trading session.

At the same time, American benchmark West Texas Intermediate (WTI) traded at $73.17 per barrel, a 0.27% rise after the previous session closed at $72.97 a barrel.

US commercial crude oil inventories decreased by 7.5 million barrels to 473.7 million barrels during the week ending March 24, according to data released by the Energy Information Administration (EIA) late Wednesday.—AA