The rise in oil prices after the increase in US crude stocks

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Oil prices rose in Asian trading Wednesday, due to data from the American Petroleum Institute showed a rise in US stocks. It was futures for Brent crude traded at $ 47.34 a barrel, by at 01:03 GMT, up 24 cents, or 0.5 percent. Futures for crude oil rose as West Texas Intermediate rose 29 cents, or 0.7 percent, to $ 45.19 a barrel. And data showed the American Petroleum Institute on Tuesday, rising US inventories of crude 1.4 million barrels for the week ending in the 9th of September to 514.7 million, while analysts expected to fall 3.8 million barrels. Oil prices have fallen by as much as 3 percent, during the previous session, after having adjusted their expectations consumers and producers in a manner indicating a continuation of the global supply glut of crude for a longer period than previous predictions.