Brent rises in price after falling previous day

Oil quotes rose on Wednesday morning after falling at the end of the previous session, reported from Interfax.

January futures for Brent oil rose in price on the London ICE Futures exchange by $0.23 (0.27%) to $85.25 per barrel. December futures, which expired when the market closed the day before, fell $0.04 (about 0.1%) to $87.41 per barrel.

By this time, December futures for WTI oil had risen in price on the New York Mercantile Exchange NYMEX by $0.12 (0.15%) to $81.14 per barrel.

At the end of October, Brent and WTI fell in price by 8.3% and 10.8%, respectively.

The market continues to monitor developments in the Middle East. Traders are also assessing data released yesterday on the dynamics of oil reserves in the United States. Estimates from the American Petroleum Institute (API) showed an increase in reserves in the week ending October 27 by 1.347 million barrels. The US Department of Energy will release official statistics later on Wednesday.





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