7/28, 3:41 PM (Source: TeleTrader)
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Oil prices rise on tight supply

The prices of oil futures rose on Thursday as investors are seemingly showing growing concerns over the tightening supply of crude.

Previously, the Energy Information Administration (EIA) reported that the commercial crude oil inventories in the United States declined by 4.5 million barrels.

West Texas Intermediate (WTI) for settlements in September added 1.67% at 9:29 am ET to sell for $98.88 per barrel. A minute later, Brent for the same month's deliveries gained 1.61% to go for $108.03 per barrel.

Baha Breaking News (BBN) / AY