Oil rose to a near one-month high on Wednesday on signs of a
gradual tightening in global oil inventories and on concerns about a supply cut
at a field in the United Kingdom’s North Sea that feeds into an international
benchmark price.
Brent crude futures, the international benchmark for oil,
were at 54.52 dollars per barrel, up 35 cents, or 0.65 percent, from their last
close.
U.S. West Texas Intermediate (WTI) crude futures were up 33
cents, or 0.65 per cent, at 51.35 dollars a barrel.
Both benchmarks on Wednesday hit their highest levels since
March 8. (Reuters/NAN)
This post first appeared on Daily Trust
