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\u00a0Crude prices recorded increases of about 0.50% in the middle of today\u2019s trading session, Thursday, February 23rd, supported by rising expectations of global demand growth, amid anticipation in the market for the official inventory statement, as crude pared its losses after falling at its most daily rate in seven weeks yesterday, Wednesday, with rising expectations of monetary tightening.<\/span><\/span> from the US Federal.<\/span><\/span><\/p>\n The report of the American Petroleum Institute had shown in the preliminary reading of inventories issued yesterday, Wednesday, that US inventories rose in the past week ending on February 17 by 9.8 million barrels.<\/span><\/span> In details, gasoline stocks increased by about 894 thousand barrels, and stocks of distillate products, which include heating fuel and diesel, increased by about 1.3 million barrels.<\/span><\/span><\/p>\n During the American session today, the markets are awaiting the official figures from the US Energy Information Administration after they were postponed for 24 hours after the Presidents’ Day holiday in the United States at the beginning of the week, as it is estimated that inventories increased by about 2.9 million barrels last week.<\/span><\/span><\/p>\n The American bank Morgan Stanley raised its expectations for global oil demand in its report issued yesterday, Wednesday, by 1.9 million barrels this year, an increase of 36% compared to its previous estimates, while Russian oil production is expected to decrease by 400 thousand barrels on an annual basis in the current year compared to one million barrels.<\/span><\/span> barrels in its previous estimates.<\/span><\/span><\/p>\n Sources in the Russian oil market said that Russia intends to reduce its oil exports from western ports by up to 25% in March compared to February, after it announced a reduction in production by 500,000 barrels in March last week.<\/span><\/span><\/p>\n US crude (NYMEX) is trading at $74.35 a barrel, an increase of 0.55%, while Brent crude is rising by about 0.50% and trading at $81 a barrel.<\/span><\/span><\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" \u00a0Crude prices recorded increases of about 0.50% in the middle of today\u2019s trading session, Thursday, February 23rd, supported by rising expectations of global demand growth, amid anticipation in the market for the official inventory statement, as crude pared its losses after falling at its most daily rate in seven weeks yesterday, Wednesday, with rising expectations […]<\/p>\n","protected":false},"author":1,"featured_media":6325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-6324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-currency-markets"],"acf":[],"yoast_head":"\n