NY.- The price of intermediate oil from Texas (WTI) opened this Thursday with a rise of 0.82%, up to 78.93 dollars a barrel, after a large drop in US crude inventories.
At 9:00 a.m. local time (14:00 GMT), WTI futures contracts for February delivery were up 64 cents from the previous day’s close.
The Energy Information Administration (EIA) reported on Wednesday a 5.9 million-barrel drop in US crude inventories for the week ending December 16.
Analysts polled by S&P Global Commodity Insights had expected crude inventories to rise by 600,000 barrels.
Gains could be higher were it not for fears of a possible cut in black gold consumption due to a major storm that could reduce Americans’ winter vacation travel.