Oil prices rise as US crude, fuel inventories seen shrinking

OIL prices rebounded on Wednesday, snapping three straight sessions of decline, as falling U.S. crude inventories and growing supply risks from wildfires in Canada boosted prices.

Brent crude futures for September rose 40 cents, or 0.5%, to $81.41 a barrel by 0650 GMT. U.S. West Texas Intermediate crude for September also increased 40 cents, or 0.5%, to $77.36 per barrel.