Crude oil prices rise on decrease of U.S. reserves
Oil prices rose by 1.1%-1.17%
On 2 November 2022, 08:47 (UTC+3), Brent Crude futures for January settlement were trading 1.17% higher at $95.76 a barrel on the London-based ICE Futures Europe Exchange.
Light Sweet Crude (WTI) futures for December delivery rose by 1.1% to $89.61 a barrel.
Oil prices are rising this morning on API data showing a plunge of U.S. reserves, according to Interfax. The American Petroleum Institute (API) on Tuesday reported a decrease of 6.53 million barrels of crude oil in U.S. inventories for the week ending Oct. 28, after an increase of 4.52 million barrels reported a week ago.
