ammonnews.net

Ammon News - Oil prices rose on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stockpiles, while the market kept tabs on flaring tensions in the Middle East.

Brent crude futures edged up 47 cents or 0.5% to $86.71 per barrel at 0330 GMT, touching a 10-week high.

U.S. West Texas Intermediate crude futures climbed 43 cents or 0.5% to $83.24 per barrel but was not too far off a two-month high hit earlier this week.

Both benchmarks closed lower on Tuesday as fears faded that Hurricane Beryl would disrupt production in the Gulf of Mexico.

U.S. crude oil inventories fell by 9.163 million barrels in the week ended June 28, according to market sources citing American Petroleum Institute figures on Tuesday. However, gasoline inventories rose by 2.468 million barrels, and distillates fell by 740,000 barrels.

Reuters