Oil rises after release of data on decline in US stocks

Global oil prices rose slightly on February 8 morning, while investors pay attention to information about the decline in crude stocks in the US, Report informs referring to the auction data.

The price of April futures for Brent crude rose by 0.06% to $83.74 per barrel, March futures for WTI increased by 0.26% to $77.34.

Traders pay attention to statistics. According to the American Petroleum Institute (API), commercial oil reserves in the country for the week to February 3 fell by 2.2 million barrels.

Official data will be published in the evening by the US Department of Energy. Analysts believe that stocks for the week, on the contrary, increased by 2.5 million barrels.