close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
REUTERS
September 13, 2018
Advertisement

Oil rises

Business

REUTERS
September 13, 2018

Share

Singapore : Oil prices rose on Wednesday following a report of declines in U.S. crude inventories and as looming sanctions against Iran raised expectations of tightening supply, while top producer Russia warned of a fragile global crude market.

U.S. West Texas Intermediate (WTI) crude futures were at $69.84 per barrel at 0428 GMT, up 59 cents, or 0.9 percent, from their last settlement.

WTI futures gained 2.5 percent in the previous session. Brent crude futures climbed 28 cents, or 0.4 percent, to $79.34 a barrel.

Brent has climbed for four straight sessions, gaining 2.2 percent the previous day. "Oil prices jumped overnight as American Petroleum Institute inventory data showed a large drawdown in inventories," said William O´Loughlin, investment analyst at Australia´s Rivkin Securities.

Advertisement

Comments

Advertisement

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus