New York-Sana
Oil prices rose towards $73 a barrel today, supported by increasing indications of tight supplies in the United States as a result of Hurricane Ida, and hopes for trade between the United States and China boosted appetite for riskier assets.
Reuters reported that Brent crude rose 1.20, or 1.7 percent, to $72.65, and US West Texas Intermediate crude rose $1.05, or 1.5 percent, to $69.19.
Figures this week showed US crude stocks fell to their lowest level since September 2019.
Oil and stock markets also got a boost from news of a phone call between US President Joe Biden and his Chinese counterpart Xi Jinping, and analysts said the call raised hopes for better relations and more global trade.