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Oil prices rise as US inventories are pulled

New York, October 20 (Xinhua)-Oil prices rose on Wednesday after data showed an unexpected decline in US crude oil reserves.

West Texas Intermediate, delivered in November, added 91 cents and was settled at US $ 83.87 a barrel on the New York Mercantile Exchange maturity date. Brent crude oil delivered in December rose 74 cents to close at $ 85.82 a barrel on the London ICE Futures Exchange.

The US Energy Information Administration (EIA) reported Wednesday that US commercial crude oil inventories fell by 400,000 barrels in the week leading up to October 15. Analysts surveyed by S & P Globalplatz predicted that US crude oil supply would increase by 2 million barrels.

According to the EIA, total motor gasoline inventories fell by 5.4 million barrels last week and distilled fuel inventories fell by 3.9 million barrels.

Oil prices have continued to rise recently as the energy crisis continues, and both crude oil benchmarks are approaching their first highs in years.

Oil prices rise as US inventories are pulled

SourceOil prices rise as US inventories are pulled

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