Oil prices rise more than 1% after sharp drop in US crude stocks
newscatcher
2023-08-02 02:33
Oil prices rise more than 1% after sharp drop in US crude stocks
Oil prices  rose more than 1 percent on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude  oil  inventories in the U.S., the world's biggest fuel consumer. Brent crude futures for October rose 92 cents, or 1.1 percent, to $85.83 a barrel by 0001 GMT, while U.S. West Texas Intermediate crude climbed 84 cents, or 1.03 percent, to $82.21 a barrel. Both benchmarks settled lower on Tuesday, breaking a three day streak of gains.

https://business.inquirer.net/413617/oil-prices-rise-more-than-1-after-sharp-drop-in-us-crude-stocks

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