Oil prices rise in Asian trade

Oil prices rise in Asian trade Thursday after strong gains yesterday as oil inventories in the US rose less than feared, experts, Trend reports with reference to Interfax.

The price of April futures for Brent oil on the London ICE Futures exchange on February 15 at 8:00 Moscow time increased by $0.46 (0.71%) - to $64.82 per barrel.

WTI oil delivered in March at the electronic auction of the new York commodity exchange (NYMEX) on Thursday morning rose by $0.61 (1.21%) - to $61.21 per barrel.

On the eve of Brent crude rose by $1,64 (2.6 percent), to $64,36 per barrel, WTI - at $1,41 (2.4 percent), to $60.60 per barrel.

According to the US Department of energy, oil reserves in the country for the week ended February 9, increased by 1.84 million barrels. Growth is recorded for the third week in a row. The forecasts of analysts polled by S&P Global Platts, expected rise in oil inventories by 3 million barrels.

Oil reserves in Cushing, where oil traded on NYMEX is stored, decreased by 3.64 million barrels per week.

Meanwhile, the reserves of gasoline in the us at the end of the week jumped by 3.6 million barrels instead of the expected 1.5 million barrels.

"Fears are multiplying that the growth of reserves will become the norm in the coming weeks, as the season of servicing the refinery seriously begins in the US," notes the analyst of the brokerage company PVM Oil Associates Ltd. Stephen Brennock.

Oil production in the US increased by 20,000 barrels per day (b/s) to 10.271 million b/s - a new record for weekly data.

Saudi Arabia, Russia and OPEC will continue its efforts to stabilize the world oil market until the end of 2018, even if the result will be "excess balance", said the Minister of energy of Saudi Arabia Khalid al-Falih.

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