Oil continues to trade at a higher after data on stocks

Crude oil futures maintain growth even after a U.S. government report showed that inventory levels neiti rose, while stocks of distillates and gasoline fell.

The Department of Energy said that inventories increased by 1.67 million barrels to a level of 366.4 million barrels last week. It is projected that growth would be around 1.5 million barrels.

Note that these data have been published tons a day later than usual this week in observance of Columbus Day on October 8.

It is learned that distillate stocks, which include heating oil and diesel, fell 3.18 million barrels to 120.9 million level. Many analysts had expected the fall to 1 million barrels.

At the same time, gasoline inventories fell by 534,000 barrels to 195.4 million mark last week, while still achieving the lowest level in nearly four years. Inventories forecast had increased by 250,000 barrels.

Futures also rose after data showed that the number of applications for unemployment benefits in the U.S. fell to a four-year low.

Also, the rise in prices continue to impact the tensions between Syria and Turkey, which could disrupt oil supplies from the Middle East.

November futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) is 92.52 per barrel on the New York Mercantile Exchange.

November futures price of North Sea Brent crude oil mixture is 115.32 dollars a barrel on the London Stock Exchange ICE Futures Europe.