Brent oil rises to $85.5 per barrel

Benchmark oil prices rose on Thursday morning after declining in the previous three sessions, reported from Interfax.

The price of January futures for Brent oil on the London ICE Futures exchange amounted to $85.49 per barrel, which is $0.86 (1.02%) higher than the closing price of the previous session.

Quotes of WTI oil futures for December in electronic trading on the New York Mercantile Exchange (NYMEX) increased by $0.87 (1.08%) and amounted to $81.31 per barrel.

A negative factor for the market on Wednesday was data on an increase in oil reserves in the United States for the second week in a row. Commercial inventories there increased by 773,000 barrels last week, the Energy Department said. Experts surveyed by Bloomberg predicted an increase of 1.8 million barrels.

Gasoline inventories increased by 65,000 barrels, but distillates decreased by 792,000 barrels. Analysts expected a reduction of 133,000 and 1 million barrels, respectively.

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