COMMODITY
Crude oil futures end higher despite increase in U.S. crude oil inventories
Apr-03-2025

The crude oil prices climbed on Thursday following the sharp pullback seen in the previous session. The increase by the price of crude oil came despite the release of a Energy Information Administration report unexpectedly showing a sharp increase by U.S. crude oil inventories in the week ended March 28. The EIA has said that crude oil inventories surged by 6.2 million barrels last week after slumping by 3.3 million barrels in the previous week, while the street had expected crude oil inventories to decrease by 2.0 million barrels. Traders also took cautious approach ahead of long awaited trade policy announcement by US President Donald Trump.

Benchmark crude oil futures for May rose $0.51 or about 0.72% at $71.71 a barrel on the New York Mercantile Exchange. Brent crude for June delivery increased by $0.46 or 0.62% to $74.95 a barrel on London's Intercontinental Exchange.


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