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[size=30]Brent crude is above $ 69 ahead of inventory data[/size]
10/01/2018 10:55 | Number of readings:
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Trend Press / Agencies
Oil prices rose on Wednesday to the highest level since 2014, with expectations of a drop in US inventories and higher crude prices.
In the morning, the price of Brent crude futures rose by 0.5% to $ 69.15 a barrel, the highest level since December 2014.
The price of NYMEX crude futures rose 63 cents to $ 63.44 a barrel.
The US Energy Information Administration raised its forecast for average oil prices in 2018 and 2019.
The agency predicted that the average price of US crude to $ 57.43 a barrel next year.
"The US Energy Data Administration (EIA) data will be released later today."
The US Petroleum Institute announced on Tuesday that it expects US oil inventories to fall sharply during the week ending January 5 by 11.2 million barrels.
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