Oil prices rise more than 1% after sharp drop in US crude stocks


Brent crude futures for October rose 92 cents, or 1.1%, to US$85.83 a barrel by 0001 GMT, while US West Texas Intermediate crude climbed 84 cents, or 1.03%, to US$82.21 a barrel.

Houston: Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the US, the world's biggest fuel consumer.

Brent crude futures for October rose 92 cents, or 1.1%, to US$85.83 a barrel by 0001 GMT, while US West Texas Intermediate crude climbed 84 cents, or 1.03%, to US$82.21 a barrel.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business

Fahmi: Malaysia's economy remains strong, continues to be the focus of foreign investors
Carimin acquires 19.5% stake in Sealink International for RM40mil
TNB terminates renewable energy PPA with Reneuco
Sunway to proceed with RM11bil takeover of IJM
KIP-REIT expects higher footfall across its malls
Oxford Innotech wins RM4.8mil data centre job
Suria Capital appoints Abd Rahman Dahlan as chairman
Ringgit closes higher amid US-EU tariff concerns, easing Japanese government bonds
Shin Yang secures RM117.7mil vessel deal
UOA REIT reports threefold profit increase in 4Q25

Others Also Read