Oil Prices Rise; Saudi Arabia Development, EIA Weekly
Data in Focus:=
Oil prices rose on Thursday in Asia following the first U.S. inventory build in four weeks.
U.S. Crude Oil WTI Futures gained 0.3% to $58.22 by 1:16 AM ET (05:16 GMT), while International Brent Oil Futures traded 0.2% higher to $63.70.
The U.S. Energy Information Administration reported that crude inventories rose by 1.06 million barrels for the week ended Sept 13, compared with expectations for a drawdown of 2.5 million barrels.
Gasoline inventories rose by 780,000 barrels versus forecasts for a drop of 540,000 barrels. Distillate stockpiles increased by 440,000 barrels, compared with forecasts for a rise of 535,000 barrels.
INDIA’S NO 1 ADVISORY