Home Business Crude oil prices hit Brent to $85.82.

Crude oil prices hit Brent to $85.82.

by news dir

World crude oil prices rose 0.86-1.09% today, Brent crude oil tested $85.82/barrel. After US crude inventories fell, contrary to market expectations.

The price of foreign crude oil as of October 21, 1964 has been changed according to the type of reference as follows:

• West Texas (WTI) was $83.87/barrel, up $0.91, or 1.09%.

• Brent was $85.82 a barrel, up $0.74, or 0.86%.

Thai Oil Public Company Limited revealed that crude oil prices rose. After the US Energy Information Administration (EIA) reported the amount of US crude inventories. For the week ending Oct. 15, the barrel declined 0.4 million barrels to 426.5 million barrels, contrary to analysts’ expectations for a gain of 1.9 million barrels, while crude inventories at the delivery point. Grant Cushing, Oklahoma fell to its lowest level in three years.

Prince Abdulaziz bin Salman, Saudi Energy Minister came out to reveal from the high prices of natural gas and coal. As a result, power plants have turned to use more oil to generate electricity. This could increase the demand for oil by 5-6 hundred thousand barrels per day. depending on the winter weather

The oil market continues to be supported by tight supply. after OPEC and its allies Still the resolution to increase production capacity gradually. Although oil demand continues to recover The group has resolved to increase production by 400,000 barrels per day in November. The plan will be discussed in December at the group meeting on November 4, 64.

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