Oil prices rise on lower U.S. commercial crude oil inventories


NEW YORK, June 7 (Xinhua) -- Crude oil futures prices picked up on Wednesday as U.S. commercial crude oil inventories declined in the previous week.

The West Texas Intermediate (WTI) for July delivery gained 79 cents, or 1.10 percent, to settle at 72.53 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery increased by 66 cents, or 0.87 percent, to settle at 76.95 U.S. dollars a barrel on the London ICE Futures Exchange.

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