The cost of oil yesterday reached the maximums since April, despite the news about the active growth of inventories in the United States and falling prices in China. By evening, Brent quotes showed a gain of 1.65%, reaching $87.59, WTI - by 2% ($84.58). In the morning, prices have slightly moved away from these levels as part of the correction.

According to the IEA, the volume of commercial oil stocks in the States at the end of last week increased by 5.85 million barrels, which is twice as much as analysts' forecast (2.66 million). Data on the Chinese economy was also released yesterday, which was ignored by the players - CPI consumer price index fell by 0.3% y/y for the first time in more than 2 years.

According to Naim Aslam, Investment Director of Zaye Capital Markets, quoted by Interfax, oil market participants are not inclined to pay attention to the negative news on the Chinese economy and are set to buy, therefore he expects prices to continue to rise. The driver at the moment is Saudi Arabia's decision to continue reducing oil production in September, as well as Russia's announcement that it will cut oil exports by 300,000 bpd in the same month.