International oil prices rose, today, Wednesday, amid anticipation of the release of data on US oil stocks, as tight supplies and increased demand for fuel supported crude futures contracts at the same time. In which major Chinese cities eased restrictions imposed to contain the Covid-19 pandemic.
Analysts polled by Reuters had expected another drop in US crude stocks in last week's data, although gasoline and distillate stocks may be higher.
However, figures from the American Petroleum Institute showed that stocks of crude and oil products in the United States rose last week.
Global supplies of crude and oil products remain tight, boosting profit margins for Asian diesel refineries to record levels, as Western sanctions hamper exports from producers. majors in Russia.
In terms of trading today, Brent crude futures for August rose 22 cents, or 2%, to $120.79 a barrel.
West Texas Intermediate crude contracts for the month of July amounted to $119.65 a barrel, an increase of 24 cents, or 0.2%.
Oil prices had risen at the settlement of trading yesterday, Tuesday, as Brent crude futures, the standard for August delivery, rose 0.9% to $ 120.57 a barrel, and the American NYMEX also increased July delivery 0.8% to record $119.41.
