This week oil prices settles on higher note while prices have remained volatile during the week. On Thursday Crude oil prices gains as report showed that U.S. crude stockpiles grew for the first time in six weeks but total supplies of crude oil and refined products declined by around 5.1 million barrels.
Presently market analysts and had predicted that if crude inventories would start to rise that increase could cut off oil’s recent rally. Some players have said that the market would have reacted more bearishly if gasoline and diesel stockpiles will not plunge.
On Thursday, closing crude values increased.WTI on NYME closed at $50.44/bbl, prices have increased by around $0.26/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.22/bbl in compared to last trading and was assessed around $52.03/bbl.
