6/28, 6:49 PM (Source: TeleTrader)
more TeleTrader news

Oil prices rise further, go up by 2%

The prices of oil futures continued to rise on Tuesday ahead of the American Petroleum Institute's (API) latest weekly report on the United States' stocks of crude oil.

Previously, the country's Department of Energy (DoE) posted the nation's Strategic Petroleum Reserve (SPR) has fallen to its lowest level since April 1986. Meanwhile, the United Arab Emirates stated it is producing the commodity at nearly its full capacity.

West Texas Intermediate (WTI) for deliveries in August advanced by 2.25% at 12:37 pm ET to sell for $112.07 per barrel. A minute later, Brent for the same month's settlements increased by 2.49% to go for $118.03 per barrel.

Baha Breaking News (BBN) / JR