Dubai – (Massader News)
Oil prices rose on Wednesday, with Brent crude futures rose by 0.8% to $ 58.36 a barrel, supported by expectations of a decline in US crude inventories and political tensions, according to a report published by Mubasher.
Nymex crude futures rose by 0.5% to $ 52.15 a barrel.
The US Petroleum Institute announced yesterday that US oil inventories are expected to have fallen by about 7.1 million barrels in the week ended October 13 to 461.4 million barrels.
The Energy Information Administration is due to release US inventory data later today, according to Mubasher.
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