U.S. West Texas Intermediate (WTI) crude futures rose 93 cents, or 1.7%, to settle at US$55.69 a barrel, the highest since Jan. 22,2020, after touching a high of $56.33 earlier in the session. Brent crude futures rose $1, or 1.7%, to settle at $58.46 a barrel, the highest since Feb. 21,2020.(File pic shows US strategic reserve at Freeport,Texas
NEW YORK: Oil prices rose almost 2% on Wednesday, with U.S. crude reaching its highest settlement level in a year after stockpiles fell to their lowest levels since March.
U.S. West Texas Intermediate (WTI) crude futures rose 93 cents, or 1.7%, to settle at US$55.69 a barrel, the highest since Jan. 22,2020, after touching a high of $56.33 earlier in the session.
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