Oil rises on API data on stock decline US

Global oil prices rose on April 5 morning, Report informs referring to the auction data.

The prices are supported by data from the American Petroleum Institute (API) on the reduction of stocks in the US.

The price of June futures for Brent crude rose by 0.41% to $85.29 per barrel, May futures for WTI oil grew by 0.37% to $81.01.

On April 5 night, the API gave its assessment of the dynamics of commercial stocks in the US over the past week. Thus, for the week to March 31, the indicator fell by 4.3 million barrels, although a decrease of 1.8 million was expected.

Official statistics will be published by the US Department of Energy on April 5 evening. Analysts predict a decrease in reserves by 2.3 million barrels.