In the early hours of Wednesday Beijing time, us energy WTI crude oil futures prices rose more than 2%. Earlier data showed that last week, US crude oil and rbob gasoline inventories unexpectedly declined, and there were reports that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) may postpone planned oil production increases.

The price of WTI futures for delivery in December on the New York Mercantile Exchange rose by $1.40, or 2.1%, to close at $68.61 per barrel, moving away from the lowest closing level since September 26.

Due to reduced risks of Middle East conflicts, US WTI crude oil and Brent crude oil futures fell by over 6% earlier this week.

The US Energy Information Administration (EIA) reported on Wednesday that due to enhanced demand, US gasoline inventories unexpectedly fell to a two-year low last week, and crude oil inventories also unexpectedly decreased due to a decline in imports.

In addition, there are reports that due to concerns about weak oil demand and increased supply, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) may postpone the planned oil production increase for December by a month or longer.