ANKARA -- Oil prices were up on Wednesday as crude inventories in the US are expected to increase less than the market expectation last week.
International benchmark Brent crude was trading at USD20.50 per barrel at 0630 GMT on Wednesday with a 0.79-percent gain after closing Tuesday at USD20.34 a barrel.
American benchmark West Texas Intermediate (WTI) was trading at USD13.41 a barrel at the same time with an 8.67-percent jump after ending the previous day at USD12.34 per barrel.
According to American Petroleum Institute (API) on Tuesday, US crude oil inventories for week ending April 24 anticipated an increase of 9.98 million barrels but the market expectation was a rise of 10.62 million barrels.
The official weekly change in US crude oil stocks will be released by the US' Energy Information Administration (EIA) later Wednesday.
Due to coronavirus-related weak global oil consumption, crude oil inventories are on the rise around the world, creating a downward pressure on oil prices. (Anadolu)
