The barrel price of Brent oil, which rose to $63.23 yesterday, closed the day at $62.68.
The barrel price for Brent oil rose by 1.6 percent compared to today's deadline at 9:10 a.m. and reached $ 63.68. At the same time, West Texas Intermediate (WTI) crude oil sold for $59.59 per barrel.
The rise in oil prices was due to increasing uncertainty over global energy supplies caused by the war between Russia and Ukraine.
Kremlin spokesman Dmitry Peskov said Russia wanted peace but would continue the “special military operation” because Ukraine had closed the door to negotiations.
Investors are also watching the impact of European and US sanctions on Russian oil supplies and trade flows.
On October 23, US President Donald Trump placed Russia's second-largest oil producer Lukoil and its subsidiaries on the sanctions list, saying they showed a “serious lack of commitment” to the peace process to end the war in Ukraine.
On the other hand, the higher-than-expected inventory increase in the US raised concerns about oversupply and limited price increases.
The US Energy Information Administration (EIA) announced that commercial crude oil inventories in the country increased by about 6 million 400 thousand barrels last week, reaching 427 million 600 thousand barrels. The market expected inventories to rise by about 1 million 700 thousand barrels.
Strategic crude oil inventories, which are not part of commercial crude oil inventories, increased by 800,000 barrels to reach 410 million 400,000 barrels.
During this period, US gasoline inventories fell by about 900,000 barrels, reaching 205 million 100,000 barrels.
Technically, Brent oil is seen as a resistance zone at $64.53 and a support zone at $61.88.
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