Brent rises above $86 despite US inventory buildup

Economies.com
1 week ago

Oil prices rose on Thursday and maintained the gains despite a surprise buildup in US crude stocks last week. 

 

The Energy Information Administration reported a buildup of 8.4 million barrels in US crude stocks to 488 million barrels. 

 

Gasoline stocks rose 3.5 million barrels last week to 230.3 million barrels, while distillate stocks fell 1.9 million barrels to 115.8 million barrels. 

 

The dollar index fell 0.2% to 102.2 as of 19:31 GMT, with a session-high at 102.4, and a low at 102.1. 

 

US crude futures due in February rose 1.2% to $80.4 a barrel as of 19:32 GMT. 

 

Brent March futures rose 1.5% to $86.2 a barrel. 

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