SINGAPORE: Brent crude rose to 83 barrels per barrel on Thursday 83 barrels per barrel As U.S. crude inventories grew less than expected, U.S. job growth strengthened and the dollar above slowed the decline in oil prices further away from record lows. Since 2010.

Analysts said the recent low oil prices attracted some investors to the market amid tensions in Libya, where militants have seized the vital Salalah oil field. But US data is a bigger factor.

OptionsXpress’ Ben Le Brun “The impact of last night’s price strength has continued into Asia,” adding that the situation in Libya will also help oil prices.

As of GMT Brent crude oil prices were up 140327 cents per barrel at 83.09 cents U.S. dollars.

Data showed that as of October 31 U.S. crude oil inventories increased by 466 U.S. crude oil prices rose 130,000 cents per barrel to 78.81 U.S. dollars this week. This exceeded analysts’ expectations for an increase of 2.2 million barrels.

Wheatley Futures said in a report, “Prices are likely to rise as crude imports are down from last week, crude production is stagnant, and U.S. inventories have not increased as expected.”

However, he added that the rise could be short-term as the fundamentals have not changed. Brent and WTI could fall in December, with support at $82 and $75.84, respectively. Employment agency report shows 100 U.S. private employers Monthly increase of 23 On Wednesday, 10,000 jobs further supported oil prices. This was the highest number since June and exceeded economists’ expectations.

In Libya, sources said at least 200,000 barrels of oil production per day were lost when the El Sharara oil field fell to gunmen. In addition, Saudi Oil Minister Ali Al-Naimi met with Venezuelan Foreign Minister Rafael Ramirez at a climate change conference in Margarita, Venezuela, on Wednesday.

Since then, neither side has commented on the oil market.

20 Century 90 In the late 20th century, Naimi helped negotiate with Venezuela and Mexico to limit production and restore a price of nearly 10 barrels of dollars per barrel.

But senior oil analysts showed no signs of a new alliance forming.