Oil Prices Gain Despite Surprise Rise in U.S. Crude Stockpiles
Oil prices rose on Thursday even after weekly data from the U.S. Energy Information Administration (EIA) unexpectedly showed a build in U.S. stockpiles. On the New York Mercantile Exchange, Crude Oil WTI Futures for November delivery traded 1.2% higher to $72.40 a barrel by 12:15AM ET (04:15 GMT), while on London's Intercontinental Exchange, Brent Oil Futures for December delivery gained 0.9% to trade at $81.52 a barrel. www.expertcommodity.com 9759717061 (Miss Ankita) 9759995554 (Mr. Sumit) The U.S. Energy Information Administration (EIA) said in its weekly report that domestic crude oil inventories rose by 1.852 million barrels during the week ended Sept. 21. Market analysts had expected a decline of 1.279 million barrels instead. The American Petroleum Institute, which collects data independently from the industry, reported on Tuesday an increase of 2.903 million barrels for the week in review. The EIA said that supplies at Cushing, Okl...