US oil inventories surge: Are global oil prices rising?

US commercial crude oil inventories have increased by 4.7 million barrels.

TodayPress TV reports that the U.S. Department of Energy has released the data.

According to the report, as of November 6, the country’s commercial crude oil inventories rose by 4.7 million barrels over the week, reaching 414.4 million barrels.

The department noted that current inventory levels remain 4% below the five-year average.

Meanwhile, Brent crude futures for January 2027 delivery on London’s ICE exchange rose by 1.25% to $93.92 per barrel.

WTI crude futures for December delivery also increased by 0.66%, reaching $87.1 per barrel.

Aysel Matlab