7/13, 7:04 PM (Source: TeleTrader)
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Oil prices rise on demand optimism

Oil prices pushed higher on Tuesday ahead of private inventory data for the United States, scheduled for release later in the day.

Demand optimism drove prices higher as crude stockpiles were on the decline for several consecutive weeks. On Wednesday, official government data on inventories was also slated for a release.

Brent crude for September climbed 1.60% to $76.36 per barrel at 12:50 pm ET. At the same time, West Texas Intermediate for August was up 1.54% to $75.24 per barrel.

Breaking the News / JC