Crude prices recorded increases in the closing session of the week today, Friday, the 24th of September (September), and less than seven hours before closing the markets and entering the weekend, as Brent crude rose by about 0.60% during today’s session and is trading at levels of $77.85 a barrel, the highest level since October from The year 2018 is heading to record weekly gains of more than 3%.
On the other hand, US crude (NYMEX) is trading at an increase of about 0.44%, and is trading at levels of 73.62 dollars per barrel, and is heading to close the week with gains of about 2.7%.
Crude prices have benefited since the beginning of the Monday session from global production disruptions coming from the US Gulf Coast, where a large part of US crude production is still suspended due to the repercussions of Hurricanes Ida and Nicholas, which causes the continued decline and withdrawal of US stocks.
The report of the US Energy Information Administration issued last Wednesday that crude stocks in the United States of America decreased in the last week ending on September 17 to 3.48 million barrels, compared to expectations that indicated a decline to 3.02.