19APR2018 - NEWS - Oil price rose by around 3 percent on Wednesday due to fall in US crude oil inventories

On Wednesday oil prices rose by around 3 percent due weekly decline in the US crude oil inventories. The prices of both West Texas Intermediate (WTI) crude and the Brent crude increased by around 3 percent. Both Brent crude and West Texas Intermediate (WTI) crude reached to the highest levels since Dec 2014. Brent crude and West Texas Intermediate (WTI) are the classifications of the crude oil that serves as the benchmark for oil pricing globally.