Oil rises in price following US Department of Energy review

World oil prices are growing noticeably this morning after the US Department of Energy reported a substantial decrease in its inventories over the past week, Report informs via foreign media.

The price of Brent February futures grew by 0.72% to $74.42 per barrel, January futures of WTI went up by 0.97% to $71.56.

Oil investors continue to evaluate the weekly US Department of Energy statistics on oil reserves and production. Thus, commercial oil reserves in the country for the week ended December 10 fell by 4.6 million barrels, while the forecast for a decrease in the indicator was only 2.1 million. Inventories are declining for the third week in a row. Oil production in the country for the week remained at around 11.7 million barrels per day.