2023-08-21 19:00:00
Oil prices rose today, due to the lack of global supply due to the reduction in exports from Saudi Arabia and Russia during this August.
Brent crude prices rose 75 cents to $85.55 a barrel, and West Texas Intermediate crude rose 80 cents to $82.05 a barrel. West Texas Intermediate crude contracts for September expire tomorrow, Tuesday, and the most active October contracts rose 73 cents to $81.39 a barrel, according to Oman News Agency.
China, the world’s largest crude importer, is drawing record levels from inventories it built earlier this year, as Chinese refineries cut back on purchases following supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ pushed oil prices beyond 80 dollars a barrel.
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