Reported about 19 hours ago
Oil prices increased for a second consecutive day following reports of decreasing US inventories, with Brent crude rising above $77 per barrel and West Texas Intermediate near $75. The American Petroleum Institute reported a 4 million barrel drop in US stockpiles, signaling the longest decline streak in three years if confirmed by government data. Factors contributing to the rise include cold weather boosting heating fuel demand and concerns about Iranian oil supply due to potential US sanctions.
Source: YAHOO