Brent rose 31 cents, or 0.4%, to $83.74 a barrel, WTI advanced 36 cents, or 0.4%, to $82.29

This year, demand for petroleum, both in the United States and globally, has largely returned to the pre-pandemic levels in 2019. Demand has grown faster than supply, reducing inventories and contributing to higher prices for crude oil and petroleum products.

Brent was up by 86 cents or 1% at $83.60 a barrel, WTI gained 89 cents or 1.1% to $82.16.

To ensure domestic oil products supplies by preventing a significant drop in throughput, Chinese refineries had to draw crude inventory in October.

The Worldwide Rig Count for October was 1,504, up 56 from the 1,448 counted in September 2021,and up 488 from the 1,016 counted in October 2020.

U.S. commercial crude oil inventories increased by 3.3 million barrels from the previous week to 434.1 million barrels.

U.S. Rig Count is up 6 from last week to 550, Canada Rig Count is down 6 from last week to 160.

Brent fell $1.03, or 1.2%, to $83.69 a barrel, WTI umbled $1.30, or 1.6%, to $82.61 a barrel.

Brent gained 20 cents, or 0.2%, to $84.91 a barrel, WTI climbed 14 cents, or 0.2%, to $84.19.

Brent dropped 46 cents, or 0.6%, to $83.26 a barrel, WTI slid 64 cents, or 0.8%, to $82.93.