Brent crude rises to $71.5 per barrel

Benchmark oil prices rose on October 30 after falling to their lowest levels since September 11 the day before, reported from Interfax. 

The market was supported, in particular, by data showing an unexpected reduction in US inventories last week. 

December Brent futures quotes on the London ICE Futures exchange were $71.5 per barrel, which is $0.38 (0.5%) higher than the previous trading session's closing level. 

The price of WTI oil futures for December on the New York Mercantile Exchange (NYMEX) electronic trading rose by $0.42 (0.6%) in the morning to $67.63 per barrel. 

The American Petroleum Institute (API) reported that US oil reserves decreased by 573,000 barrels over the past week. Analysts on average had expected an increase of 2.3 million barrels, according to Trading Economics.





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