Oil prices rise, supported by lower inventories

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Oil prices rose, today, Tuesday, supported by a decline in inventories, although optimism was limited by concerns about demand after the increase in Covid-19 injuries in Europe.

Brent crude contracts, the global standard, rose 0.74 percent to $82.66 a barrel, at 04:21 GMT. And US benchmark West Texas Intermediate crude contracts increased by 0.67 percent, to $81.42.

“We have very low levels of inventories, and if the winter comes in very cold and the OPEC slowdown continues to increase supply, this could raise oil prices,” said Tony Noonan, senior risk manager at Mitsubishi Corp.

Edit by Khalil Saeed Rizq

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Maher Asaad Baker, AKA Maher Baker (In Arabic: ماهر أسعد بكر), Musician, Producer, Author, Director, VFX artist, Graphic designer. Maher was born in Damascus, Syrian Arab Republic. Maher started his career in 1997 with a dream of being one of the well-known artists in the world. Maher studied at Damascus University, He quit studying and started his career in graphic design and visual effects industry, Maher has participated in many forms of production from visual effects, to directing commercials, promos and short films, He started his own team which has grown and widely participated in many projects.
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