Oil rises about 2% after US data

Oil prices rose about 2% today after the US Energy Information Administration said that US crude inventories fell more-than-expected by 4.6 million barrels, and the US Energy Information Administration said that products supplied by refineries rose to 23.2 million barrels per day last week.

The data showed that Saudi Arabia's crude oil exports rose in October for the sixth month in a row, to reach their highest level since April 2020. Brent crude futures rose $1.14, or 1.5%, to $75.02 a barrel, and US West Texas Intermediate crude futures rose $1.51, or 2.1%, to $72.38 a barrel.