The prices for US WTI crude oil ($IOIL00 (+0.51%)) have fallen to 81.76 US dollars per barrel per barrel. The main reason for this price increase was an unexpectedly large reduction in crude oil stocks in the USA. Specifically, the amount of crude oil in storage fell by 1,923
million barrels and the gasoline stocks by 2.954 million barrels. These declines obviously signal a stronger demand for oilwhich is driving prices up.

In addition, the Hurricane Berylcurrently passing through the Caribbean has led to further price increases contributed to further price increases. A hurricane can disrupt oil production and refineries along the US Gulf Coast which could reduce the available supply of oil. These potential production outages will lead to a further shortage supply and drive prices up further.