Oil prices approached $ 76
Oil prices rose more than $ 1 in trading on Wednesday, after US industrial data showed US oil reserves fell more than expected last week due to two hurricanes, according to the International Economics Group. Recorded an increase overnight.
Another reason for the rise in oil prices has been the challenge of some OPEC members to increase production and create a sense of shortage in the market in the midst of the electricity and gas crisis in Europe.
Brent crude traded up $ 1.43 at $ 75.79 a barrel, and US crude was up $ 71.87 at $ 381.87 a barrel.
The focus on the oil market has shifted to concerns about supply shortages.
Ravindra رائو, Deputy Head of Basic Products of the Institute Kotak “Oil prices rose due to the API weekly report, which showed a further decline than expected for US oil reserves,” he said.
US oil reserves fell 6.1 million barrels in the week to September 17, according to sources.
Jeffrey هالری“Several factors have led to the rise in oil prices, including the excessive rise in natural gas prices … The decline is likely to be short-lived,” said a market analyst.
World gas prices are expected to reach unprecedented levels this winter.
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