Oil rises ahead of IEA report

14/12/2023 Argaam
Oil drilling rigs

Oil drilling rigs

Oil prices continued its rise on Thursday as the dollar was under pressure after the Federal Reserve's latest decision and ahead of the monthly report of the International Energy Agency (IEA).

 

Brent crude for February delivery rose 0.53%, or 39 cents, to $74.65 a barrel at 09:01 am KSA Time.

 

US West Texas Intermediate (WTI) crude for January delivery gained 0.42%, or 29 cents, to $69.76 a barrel, after rising 1.3% from its lowest level in late June.

 

US crude oil stocks declined by 4.3 million barrels in the week ended Dec. 8.

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