Crude prices recorded highs in mid-European trading today, Wednesday, May 25th, amid anticipation in the markets for the official US inventories statement from the US Energy Information Administration, as Brent crude rose by about 1.11%, trading at levels of 114.81 dollars per barrel, while US crude (NYMEX) is trading at Levels of 110.98 dollars per barrel, up by 1.10%.

The report of the American Petroleum Institute showed in the preliminary reading of stocks and exports on Tuesday that US stocks rose in the last week ending on May 20 by 567,000 barrels, compared to expectations that indicated a decline of about 2.2 million barrels.

In details, gasoline stocks fell by about 4.22 million barrels, while stocks of distillates, which include heating fuel and diesel, fell by about 949,000 barrels.

It is estimated that today’s official stocks will decline last week by about 2.2 million barrels. Meanwhile, US Energy Secretary Jennifer Granholm said on Tuesday that the US President does not rule out using export restrictions to ease the rise in domestic fuel prices, which put pressure on crude prices.