Oil prices rose for the third day in a row today, after crude oil demand rose by less than expected.
In London, the price of Brent crude oil from the North Sea rose by 56 cents and is now at $79.15 per barrel.
In New York, the price of light crude oil is higher by 59 cents and amounts to $73.90 per barrel.
According to data from the American Petroleum Institute (API), crude oil inventories are much lower than analysts’ forecasts.
The U.S. Energy Information Administration (EIA) also yesterday cut its forecast for this year’s growth in domestic oil production to be much less than last year’s increase, while it is predicted that it will not reach the record levels of December 2023 until February of next year, Srna news agency writes.
