Updated .. Oil rises 2.5% at settlement, despite the jump in US inventories


Mubasher: Oil prices extended their gains by more than 2.5 percent when settling trading on Wednesday, despite the jump in US crude stocks.

US Energy Information Administration showed High oil stocks In the United States, by 21.6 million barrels last week, contrary to expectations, while US gasoline inventories decreased by 13.6 million barrels.

Production increased The United States has about 300 thousand barrels of oil Daily during the past week, to record 10 million barrels per day.

Investors are awaiting the OPEC + ministerial committee meeting tomorrow, Thursday, amid press reports regarding the approval of a number of members to keep oil production unchanged in April.

Upon settlement, the price of US NYMEX crude for April delivery rose 2.6 percent to reach $ 61.28 a barrel.

By 7:50 pm GMT, the price of Brent crude futures, benchmark for May delivery, rose 2.2 percent to $ 64.13 a barrel.


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