7/27, 11:10 AM (Source: TeleTrader)
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Oil prices rise, WTI up by more than 1%

The prices of oil futures collected gains on Wednesday after the American Petroleum Institute's (API) latest update showed a decline in the United States' crude inventories.

Meanwhile, it was reported Saudi Arabia will increase the price of its flagship crude Arab Light to Asia to $10.80 a barrel, which would be a new record.

West Texas Intermediate (WTI) for settlements in September advanced by 1.37% at 4:47 am ET to sell for $96.30 per barrel. At that moment, Brent for the same month's deliveries expanded by 0.96% to go for $105.32 per barrel.

Baha Breaking News (BBN) / JR