Brent rose above $95 per barrel

Oil prices maintain an uptrend on Thursday, based on information about a decline in stocks in the United States. Statistics showed record low levels of reserves at the key terminal in Cushing. 

The current price of Brent oil is $94.86 per barrel. The daily high was marked at $95.34. North American WTI oil shows similar dynamics: the current quote is $94.40 per barrel, the daily maximum is $95.03. 

According to yesterday's data from the US Department of Energy, reserves of «black gold» decreased by 2.2 million barrels last week, dropping to 416.3 million barrels – the lowest level since December 2022. Now they are 4% below the five-year average. 

Reserves at the Cushing terminal fell by more than 900 thousand barrels, reaching 22 million barrels – the lowest values since July 2022. Analysts worry that the current pressure on the terminal may lead to problems at the main American oil storage facility.

With the current growth rate, Brent can quickly reach the $100 per barrel mark, which, according to experts, may lead to additional purchases in the market if world leaders do not take steps to stabilize the market.