Oil prices are rising as of December 30, to American Petroleum Institute (API) about a significant decline in US inventories. This is evidenced by data from the website Investing.com.
The cost of February futures for Brent oil on the London ICE Futures exchange is USD 51.25 per barrel, which is USD 0.16 (0.31%) higher than the price at the close of the previous session.
The price of WTI crude oil futures for February in electronic trading on the New York Mercantile Exchange NYMEX is USD 48.23 per barrel, which is USD 0.23 (0.48%) higher than the level of previous trading. The previous trading in benchmarks ended at USD 51.09 and USD 48.00, respectively.
According to the API, oil inventories fell 4.8 million barrels to 492.9 million December 25, while analysts expected a decline of 2.6 million barrels.
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