Oil prices rise amid U.S. inventory data-Xinhua

Oil prices rise amid U.S. inventory data

Source: Xinhua| 2022-09-15 05:32:00|Editor:

NEW YORK, Sept. 14 (Xinhua) -- Oil prices climbed on Wednesday after a weekly U.S. petroleum status report painted a mixed picture.

The West Texas Intermediate (WTI) for October delivery increased 1.17 U.S. dollars, or 1.3 percent, to settle at 88.48 dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery added 93 cents, or 1 percent, to settle at 94.1 dollars a barrel on the London ICE Futures Exchange.

The U.S. Energy Information Administration (EIA) reported Wednesday that the nation's crude oil inventories increased by 2.4 million barrels during the week ending Sept. 9. Analysts polled by S&P Global Commodity Insights had expected U.S. crude inventories to show a climb of 1.2 million barrels.

According to the EIA, total motor gasoline stockpiles declined by 1.8 million barrels last week, while distillate stocks rose by 4.2 million barrels.