2023-06-30 09:48:00
Oil prices rose today, Friday, due to a decrease in US crude oil inventories and fears of declining supplies.
Brent crude futures for September delivery rose 16 cents, or 0.2 percent, to $74.67 a barrel.
US West Texas Intermediate crude rose eight cents, or 0.1 percent, to $69.95 a barrel.
Both benchmarks, following closing slightly higher on Thursday, are set to rise more than 2.5% in June. This will be the first monthly increase for Brent crude in 2023, but it will be the second for WTI, following it rose in April.
On a quarterly basis, Brent is heading for a loss of around 6% while WTI is heading for a loss of around 7%.
And the US Energy Information Administration stated that crude stocks fell by 9.6 million barrels in the week ending June 23, and economic data revealed that US gross domestic product growth in the first quarter of the year was adjusted to an annual rate of two percent, compared to 1.3 percent announced earlier. .
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