Oil prices rose marginally during Thursday's trading, before the release of US inventory data, and with the follow-up to the repercussions of Hurricane Ida.
ANZ analysts stressed in a note reported by Reuters that US crude production is struggling to recover from Hurricane Ida, due to the extensive destruction of infrastructure and power outages.< /p>
While the US Energy Information Administration expected yesterday that global oil demand will grow by about 5 million barrels per day this year, compared to previous estimates of a growth of 5.3 million barrels.
In today's trading, Brent crude futures for November delivery rose 0.3% to $72.81 a barrel.
The US NYMEX crude contracts for October delivery also increased 0.1% at $69.40 a barrel.
The American Petroleum Institute data yesterday revealed that oil stocks fell by 2.9 million barrels for the week ending on September 3rd.
The US Energy Information Administration is due to release official inventory data for the past week later today.
