Crude Oil Updates

Category:-Metal | 29-Sep-2022 09:07 AM

Oil prices rose on Wednesday following unexpected drawdowns in U.S. crude and fuel stocks, outweighing downward pressure from the continued strength in the U.S. dollar.

Brent crude futures added 3.5% to end the day at $89.32, while U.S. West Texas Intermediate (WTI) crude futures settled 4.65% higher at $82.15 per barrel.

U.S. crude stocks fell by 215,000 barrels in the most recent week, while gasoline and distillate inventories declined by 2.4 million and 2.9 million barrels respectively, as refining activity declined following several outages.

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