Oil prices rise

Oil prices rose on January 28 morning following the release of a US inventory estimate, Report informs referring to trading data.

The price of April Brent crude futures increased by 0.39% from the previous close, to $65.85 per barrel, while March WTI futures rose by 0.54%, to $62.73.

The American Petroleum Institute (API) has published its own estimate of US crude oil reserves. According to the institute, commercial crude oil inventories in the country decreased by 0.25 million barrels for the week ending January 23.

Official statistics from the US Department of Energy will be released later on Wednesday. It was earlier noted that the figure for the week ending January 16 increased by 3.6 million barrels, to 426 million.