Brent crude rises to nearly $73 per barrel

Oil prices rose on September 5 against the background of data from the American Petroleum Institute (API) on a sharp decline in US reserves, Report informs referring to Interfax.

According to API estimates, oil reserves in the country decreased by 7.4 million barrels last week. Such a reduction, if confirmed by official data, will be the most significant since June.

The US Department of Energy will publish a weekly report on energy reserves in the country this evening.

The cost of November Brent crude futures on the London ICE Futures exchange was $72.96 per barrel, which is $0.26 (0.36%) higher than at the close of the previous trades. WTI crude futures for October on the electronic trading of the New York Mercantile Exchange (NYMEX) increased in price by $0.24 (0.35%), to $69.44 per barrel.