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Oil regained strength following EIA reports on US crude stocksOil regained strength following EIA reports on US crude stocks |
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International benchmarks for crude oil increased on Wednesday, 18 August 2022 after the Energy Information Administration reported 7.1 million barrels decreased in US commercial crude inventories last week, with exports hitting the highest levels on the record of 5 million barrels per day. Concerned over the demand outlook eased slightly.
Brent added $1.31 or 1.42% to settle at $93.65/barrel.
WTI rose $1.58 or 1.8% to close at $88.11/barrel.
