Oil rises by almost 1% on several positive factors

Global oil prices rose on July 28 morning as investors are evaluating the data of the US Department of Energy on the reduction of the country's crude inventories, as well as Fed's decision, Report informs referring to the auction data.

The price of October futures for Brent crude oil increased by 0.93%, to $102.62 per barrel, and September futures for WTI rose by 1.05%, to $98.28.

Traders continue to evaluate data from the US Department of Energy that commercial gasoline stocks in the country for the week to July 22 fell by 4.5 million barrels, or 1.1%, to 422.1 million barrels. A decrease of only 1 million was expected.

The markets are also evaluating the results of the Fed meeting - the regulator raised the discount rate by 75 basis points for the second time in a row, to 2.25-2.5%.