Oil prices rose due to record exports from the US
27.10.2022 - 17:20
Oil prices started to rise on Thursday, October 17, extending gains of more than 3% in the previous session.
The increase in rates was caused by record exports of crude oil from the United States and the fall of the dollar. In contrast, gains in oil prices in Asia were limited by concerns about falling demand in China, Reuters reported.
Brent crude futures were up 20 cents, or 0.2%, at $95.89 a barrel. West Texas Intermediate (WTI) crude rose 19 cents, or 0.2%, to $88.10 a barrel.
U.S. crude oil inventories rose by 2.6 million barrels last week, according to weekly government data on Wednesday, while crude oil exports rose to 5.1 million barrels a day, the most on record.
