Brent crude futures rose 41 cents to $81.10 a barrel while WTI crude increased by 41 cents to $78.76
SINGAPORE – Oil prices climbed on Wednesday after an industry report showed US crude and gasoline inventories fell and as the market watched for a possible widening of the Israel-Gaza war, which may impact global oil supplies.
"The American Petroleum Institute reported a significant drawdown in US crude inventories of 5.2 million barrels, far more than a forecasted decline of 2 million. The data signalled that oil demand remains healthy," said Danish Lim, investment analyst at Phillip Nova. The API figures showed crude stocks fell by 5.21 million barrels in the week ended Aug. 9, according to market sources citing the data. Gasoline inventories eased by 3.69 million barrels, and distillates rose by 612,000 barrels.Official government data from the Energy Information Administration is due later on Wednesday.
Iran has not yet retaliated against the assassination but any escalation of the conflict in the Middle East is a clear upside risk to oil prices over the next six months and potentially even longer, said Vivek Dhar, analyst at Commonwealth Bank of Australia.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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