The price of crude oil rose by more than 2.5% as US crude oil inventories fell to their lowest level in three years. This indicates that demand for crude oil continues to rise.
WTI crude oil rose 2.5%, or $1.74, to $72.23 per barrel.
Brent crude oil rose 2.5%, or $1.83, to $76.19 per barrel.
U.S. crude oil inventories fell by 3.5 million barrels to 413.96 million barrels last week, the lowest level since October 2018, and crude oil inventories at Cushing, Oklahoma, the delivery point for U.S. crude oil futures, fell by 1.5 million barrels. The information was released by the U.S. Energy Information Administration (EIA).
Refined oil stocks Heating oil and diesel fell by 2.6 million barrels last week. This was more than analysts had expected, who had anticipated a drop of 1.4 million barrels.
In addition, some oil production in the Gulf of Mexico is still recovering from the damage caused by Hurricane Ida. This is a variable that supports oil prices.
The Spot Market is Open
Thursday, September 23, 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 12.07 | 1,763.70 1,764.70 | -4.20 -0.24% | 1,760.20 1,770.10 |
| Silver 12.07 | 22.60 22.70 | -0.05 -0.24% | 22.45 22.82 |
| Platinum 12.04 | 992.00 1,002.00 | -2.00 -0.20% | 989.00 1,007.00 |
| Palladium 12.00 | 1,964.00 2,114.00 | +2.00 0.10% | 1,941.00 2,115.00 |
| Rhodium 05.00 | 13,000.00 15,000.00 | 0.00 0.00% | 13,000.00 15,000.00 |
| Energy Updated at | Price | Change | %Change |
| Crude oil 12.06 | 72.38 | +0.15 | 0.21% |