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Beijing, August 12 (QNA) – Oil prices rose Wednesday amid concerns about supply disruptions in the Middle East, despite an increase in US crude oil inventories.
Brent crude futures rose $1.10 to $90.01 a barrel, while US West Texas Intermediate (WTI) crude gained 71 cents, or 0.85%, to $83.91.
Both benchmark crudes settled more than a dollar higher on Tuesday, reaching their highest closing levels since July 31, extending gains after rising nearly 5% on Monday.
Data from the American Petroleum Institute (API) showed that US crude oil inventories rose by about 9.1 million barrels during the week ending August 7, while gasoline inventories fell by 1.5 million barrels and distillate inventories by 596,000 barrels. (QNA)
