Oil prices rise as U.S. inventories drop

2021-12-09 05:31

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NEW YORK, Dec. 8 (Xinhua) -- Oil prices climbed on Wednesday as data showed a decline in U.S. crude stockpiles.

The West Texas Intermediate for January delivery added 31 cents to settle at 72.36 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery increased 38 cents to close at 75.82 dollars a barrel on the London ICE Futures Exchange.

U.S. crude oil inventories decreased by 0.2 million barrels during the week ending Dec. 3, the U.S. Energy Information Administration (EIA) reported on Wednesday.

According to the EIA, total motor gasoline inventories increased by 3.9 million barrels last week, while distillate fuel inventories increased by 2.7 million barrels.
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