Despite a much sharper than expected rise in US crude inventories, oil overcame the rise in US inventories and resumed its ascent.

Oil prices resumed their escalation on Thursday. The price of Brent crude from the North Sea for December delivery rose 0.98% or 82 cents in London to close at $84. The barrel of American WTI for delivery in November gained 1.08% or 87 cents, to end at 81.31 dollars in New York. Brent lost almost a dollar a barrel, falling to 83.23 dollars. But the fall was short-lived and prices recovered quickly, once again approaching the highs reached on Monday, at 82.18 dollars for WTI (highest since October 2014) and 84.60 for Brent (more high since October 2018). Stocks of distilled products, which include heating oil in particular, are 9% below the average of the last five years, while last week the utilization rate of refineries fell to 86.7%, against 89 .6% on average over the previous seven days.