20DEC2017 - NEWS - Rise in Oil Prices On Wednesday

Rise in oil prices is noticed on Wednesday due to expectations of fall in US crude inventories The rise in oil prices is also supported by the ongoing North Sea Forties pipeline system outage issue. At 0312 GMT, WTI crude futures were at $57.73 and Brent crude Futures were at $63.91 a barrel. The prices of both WTI Crude Oil, $57.46 up 0.30 points and Brent Crude oil, $63.80 up 0.39 points settled higher on 19th Dec 2017.

Both West Texas Intermediate (WTI) and Brent Crude serves as a major benchmark price for purchases of oil worldwide.