Oil prices continued to rise on Thursday due to signs of steady demand for fuel in the United States. According to the Ministry of Energy, commercial oil reserves in the country decreased by 6.01 million barrels in a week, to 420.7 million, the maximum decrease since mid-June. Gasoline stocks fell for the fifth week in a row – by 2.72 million barrels, while distillate reserves increased by 2.34 million barrels. The current Brent futures price rose to $67.50 per barrel. WTI crude oil is trading near $63.30.
According to analysts, strong demand in the United States supports positive market sentiment. However, the uncertainty surrounding the negotiations on Ukraine remains a «bearish» factor: a settlement of the conflict may provoke a price correction, while the lack of progress, on the contrary, will increase growth.
