Decreasing US Oil Stocks Raises Global Prices

Baghdad Oil prices rose, in global trading today, after announcing a decrease in oil stocked in the United States.

Brent crude futures rose to $100.68 a barrel, by 0.46%, and US crude (West Texas Intermediate) to $94.48 per barrel, or 0.79%.

The data from the Energy Information Administration showed earlier today, that US commercial oil stocks (excluding the strategic reserve) fell 3.3 million barrels, or 0.8%, to 421.7 million barrels by the end of last week.

Source: National Iraqi News Agency