7/29, 3:11 PM (Source: TeleTrader)
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Oil rises as private data shows fall in US inventories

Crude prices grew on Wednesday following report that showed a decrease in the United States oil inventories.

According to data from the American Petroleum Institute (API), US crude stockpiles declined by 6.83 million barrels in the week ending July 24.

West Texas Intermediate (WTI) for September delivery gained 0.78% to trade for $41.36 per barrel at 8:59 am ET. A minute later, Brent for settlements in the same month strengthened by 0.97%, going for $43.64 per barrel.

Breaking the News / GA