US Oil Reserves Increase by 1.7 Million Barrels in One Week

U.S. commercial oil reserves have increased by 1.7 million barrels over the course of the week, totaling 420.6 million barrels as of December 30, according to the U.S. Department of Energy. This was reported by TASS.

The department clarified that the current level of reserves is about 4% lower than the average of the last five years, which is typical for this time of year.

As of 20:01 Yerevan time, March futures for Brent crude oil increased by 1.35% on the ICE exchange, reaching $78.89 per barrel, while the price for WTI futures for February delivery rose to $73.82 per barrel.