West Texas Crude Oil Contract Delivered in June Trading on the NYMEX was up $3.34 to close at $105.36 a barrel. Brent crude oil price Delivered in June It was up $2.27 to close at $107.59 a barrel.
The Russian Ministry of Economy predicts that Russian oil production will drop 17 percent this year, hit by US and Western sanctions.
Oil prices were also boosted by lower-than-expected U.S. stock gains. while gasoline and refined oil stocks declined.
The US Energy Information Administration (EIA) said that US crude inventories rose 692,000 barrels last week. Analysts expected a gain of 2 million barrels, while gasoline inventories fell 1.6 million barrels, while analysts had expected a gain of 100,000 barrels.
In addition, refined oil stocks This includes heating oil and diesel, down 1.4 million barrels last week. Analysts expected a drop of 100,000 barrels.
Investors keep an eye on the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies. or OPEC Plus on May 5 to determine the production policy for June