Tokyo, Aug. 21 (BNA): Thursday saw a further increase in oil prices.
Oil Prices Rise
According to Reuters, Brent Crude futures rose 41 cents, or 0.61%, to $67.25 a barrel at 0637 GMT after reaching a two-week high in early trading.
At $63.16 a barrel, US West Texas Intermediate (WTI) oil futures increased 45 cents, or 0.72%.
In the previous session, both contracts increased by more than 1%.
The U.S. Energy Information Administration reported on Wednesday that US oil stocks dropped 6 million barrels to 420.7 million barrels last week, which was less than the 1.8 million-barrel reduction predicted in a Reuters poll.
According to the EIA, gasoline inventories fell by 2.7 million barrels, compared to a loss of 915,000 barrels, showing consistent driving demand during the summer travel season. Additionally, the four-week average for jet fuel usage increased to its highest level since 2019.
S.H.A. and H.K.
