Oil prices rising as US crude supplies drop

Oil prices rising as US crude supplies drop

The prices of June futures for Brent oil have risen by 0.30% to $56.40 per dollar on the ICE Exchange in London, as of 08:22 (MSK).

The May futures for WTI oil gained 0.26% and reached $53.54 per barrel at the New York Mercantile Exchange (NYMEX).

The increase in world oil prices is associated with the publication of new statistics by the American Petroleum Institute (API). Last week, US crude supplies dropped by 1.3 million barrels. The API data also showed a drop of 3.7 million barrels in gasoline supplies and a fall of 1.6 million barrels in distillates, sources said.

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