Despite U.S. crude inventories rising more than 10 million barrels\u2019 week over week oil rallied for a third day to the highest level in more than a week. WTI for January delivery rose $1.89 per barrel to settle at $77.28 per barrel. Brent for February closed up US$2.02 per barrel to settle at US$82.70 per barrel. The jump today was on the back of the EIA saying that 2023 oil prices may rise as sanctions squeeze Russian supplies and demand will be more than earlier forecasted. The FED\u2019s as expected raised rates interest rates by 50 basis-points. Natgas was down today on the back of increased supply and new demands by for the startup of Freeport\u2019s LNG facility by the FERC<\/p>\n\n\n\n
Despite U.S. crude inventories rising more than 10 million barrels\u2019 week over week oil rallied for a third day to the highest level in more than a week.<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n