Brent futures rose US$1.68, or 2.5%, to settle at US$69.31 a barrel, while US West Texas Intermediate (WTI) crude futures rose US$1.58, or 2.5%, to settle at US$64.99.
NEW YORK: Oil prices climbed about 3% to a seven-week high on Wednesday as a surprise drop in US weekly crude inventories added to a sense in the market of tightening supplies amid export issues in Iraq, Venezuela and Russia.
Brent futures rose US$1.68, or 2.5%, to settle at US$69.31 a barrel, while US West Texas Intermediate (WTI) crude futures rose US$1.58, or 2.5%, to settle at US$64.99.
