On the London market, the price of oil briefly reached $86.28 per barrel, then fell to $85.83 – $1.46 above yesterday’s closing level. On the New York market, oil rose by $1.48.
Oil prices were influenced by Turkey’s threat to attack Kurdish rebels in northern Iraq and a report from the U.S. government about a decline in inventories last week. Due to tensions in the Middle East, the price of oil reached its highest level on the U.S. market last Friday – $90.07 per barrel. After a correction at the beginning of this week, prices began to rise again on Wednesday after the U.S. government announced that crude oil inventories had decreased by 5.3 million barrels in the week ending October 19. U.S. distillate inventories, which include diesel and heating oil, decreased by 7.6 percent compared to the same period last year. Crude oil inventories are down 5.9 percent compared to last year.
