Oil prices show signs of improvement

Oil prices jumped on Thursday (30). The reason for this increase would be a lower growth in the supply of the product in the United States, in addition to the high demand for fuels, which was strongly impacted by coronavirus.

At 8:40 a.m. PDT, Brent crude rose $2.57, or 11.4 percent, to $25.11 per barrel. U.S. crude advanced $2.33, or 15.47 percent, to $17.39 per barrel. It is worth remembering that the benchmark contract in the U.S. had already risen 22% on Wednesday.

Also in the U.S., oil inventories grew by 9 million barrels last week to a total of 527.6 million barrels, according to energy information agency data – well below analysts' estimate in a Reuters survey of 10.6 million. On the other hand, gasoline inventories fell by 3.7 million barrels after touching record levels the previous week, with a slight rise in demand offsetting an increase in refinery production.


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