Oil prices rose at the settlement of trading on Wednesday, February 8th, a session in a row, despite the increase in US inventories to the highest level in more than a year and a half.
Upon settlement, Brent crude futures rose by 1.67% to $85.08 a barrel.
US crude futures rose by 1.7%, recording $78.47 a barrel.
US Energy Information Administration data revealed that oil stocks rose last week to the highest level since June 2021, recording 2.4 million barrels, which exceeded expectations of two million barrels.
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