Oil rises after the decline in US stocks in more than 30 years
{International: Euphrates News} boosted oil prices extended gains, rising more than 1.5 percent on Thursday, after data showed what could be the biggest weekly decline in crude inventories in more than 30 years.
The reduced US crude inventories unexpectedly rose {12.1} million barrels last week, according to data revealed by the American Petroleum Institute after the market settlement on Wednesday, compared with expectations of the registration of an increase of about {200} thousand barrels.
If the official data confirmed, government - issued US later on Thursday, the decline weekly would be the largest since April / April 1985.
jumped International benchmark crude blend {Brent} November delivery fell {81} cents or {1.69% to 48.79} dollars a barrel, by the time {10 : 23} Moscow time {07:23} GMT, after closing up 72 cents on Wednesday.
rose US NYMEX crude for October delivery / October increased by 91 cents , or 2% to {46.41} dollars a barrel, after the previous session ended , up by 67 cents.
and continued trading volatile this week , with the market focus on the possibility of reaching the top oil producers in the world to agree on the installation of production later this month.
stepped up prices to the highest level in a week on Monday, after Russia and Saudi Arabia , an agreement to cooperate in order to stabilize market crude, but fell after that because of the uncertainty surrounding the deal.
it is expected to be discussed by Member States of the Organization of Petroleum Exporting {} and independent producers such as Russia to install the production level in the informal talks in Algiers between the 26th and 28th of the month Gara.anthy http://alforatnews.com/modules/news/article.php?storyid=126769