Brent crude rose $1.02, or 1.4 per cent, to $75.83 by 8:19 pm IST, having touched its highest since October 2018 at $76.02 after the EIA data
Topics
Crude Oil Price | Oil Prices | United States
Reuters
Last Updated at June 24, 2021 00:50 IST
Oil prices rose on Wednesday, with Brent climbing above $76 a barrel to its highest since late 2018, after data showed US crude inventories declined and reinforced views of a tightening market as travel picks up in Europe and North America.
US crude inventories fell by 7.6 million barrels last week to June 18 to 459.1 million barrels, the US Energy Information Administration said, compared with analysts’ expectations in a Reuters poll for a 3.9 million-barrel drop.
Brent crude rose $1.02, or 1.4 per cent, to $75.83 by 8:19 pm IST, having touched its highest since October 2018 at $76.02 after the EIA data. US West Texas Intermediate added $1, or 1.4 per cent, to $73.85 and hit $74.25, also the highest since October 2018.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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First Published: Thu, June 24 2021. 00:50 IST
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