Market worries about tight supply International oil prices rose on November 22

International crude oil futures prices rose
at the close due to market concerns about tight oil supply.
Light crude futures for January 2023 delivery rose $0.
91, or 1.
14%,
to settle at $80.
95 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for January 2023 delivery rose $0.
91, or 1.
04%, to settle at $88.
36 a barrel
.

FXEmpire market analyst Vladimir Zernov said on the 22nd that New York oil prices rose above $81 per barrel on the 22nd as traders worried that OPEC+ may turn to production cuts at the ministerial meeting in early December
.
Market sentiment has changed
rapidly.

According to survey data released by S&P Global later on the 21st, market analysts believe that U.
S.
commercial crude oil inventories fell by 1.
7 million barrels month-on-month last week, while gasoline and distillate inventories are expected to fall by 900,000 barrels
month-on-month.
The average operating rate of U.
S.
refineries last week was expected to be 93.
1, up 0.
2 percentage points
from the previous month.

Naeem Aslam, chief market analyst at AvaTrade, said oil prices were trying to regain lost ground
.
Saudi Arabia denied discussing with other oil producers to increase crude oil production quotas, which supported oil prices on the
22nd.