Brent oil price rises above $65 for 1st time since Jan 21, 2020

MOSCOW, Feb 18 (PRIME) -- The price of an April futures contract for Brent oil rose by 1.17% to U.S. $65.09 per barrel as of 7.34 a.m. Moscow time on Thursday, growing above $65 for the first time since January 21, 2020, as seen by PRIME in the exchange trade data on Thursday.

The price of March futures for the WTI blend gained 0.95% to $61.72 per barrel.

The American Petroleum Institute said that the U.S. crude oil reserves fell by 5.8 million barrels in the previous week, significantly higher than expected contraction of 2.2 million barrels. The U.S. Department of Energy will release the remaining data on the U.S. oil market later on Thursday, and analysts expect it to report a 2.43 million barrel contraction of reserves.

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