Oil prices climb on positive US fuel demand data

Oil prices climb on positive US fuel demand data
# 11 May 2023 09:36 (UTC +04:00)

Oil prices bounced back on Thursday after dropping by more than a dollar a barrel the previous day, supported by stronger fuel demand data from the United States, the world’s top oil consumer, APA reports citing Business Recorder.

Brent crude futures rose by 56 cents, or 0.7%, to $76.97 a barrel by 0330 GMT, while U.S. crude futures rose 53 cents, also up 0.7%, to $73.09.

A sharper-than-expected drop in U.S. gasoline inventories boosted prices, reflecting stronger demand for transport fuels in the U.S.

#
#

THE OPERATION IS BEING PERFORMED