Oil Prices Rise On Expectations Of Higher US Demand
Friday 21 February 2025 | Economic Number of readings: 298 Baghdad / NINA / Oil prices continued their gains today, Friday, in early Asian trading, and are heading for a weekly rise amid growing expectations of strong demand in the United States after data showed a decline in gasoline and distillate inventories, and prices received support from concerns about disruption to Russian supplies.
Brent crude futures rose 16 cents, or 0.2 percent, to $76.64 a barrel, and US West Texas Intermediate crude rose 17 cents, or 0.2 percent, to $72.65 a barrel, and the two crudes are heading for weekly gains of about three percent.
The US Energy Information Administration said yesterday that crude oil inventories in the United States rose while gasoline and distillate inventories fell last week after seasonal maintenance at refineries led to a decline in refining operations. / https://ninanews.com/Website/News/Details?key=1187885