Oil Prices Record $ 52 after US stocks fall

Baghdad - Oil prices rose after a report showed refineries in the United States consumed record quantities of crude last week, which led to reducing stocks.

"US crude oil fell by 6.5 million barrels last week, a much larger decline than expectations for a 2.7 million barrel decline," the US Energy Information Administration said.

Refineries consumed about 17.6 million barrels of crude, surpassing a record high in May.

Brent crude was up 14 cents at $ 52.28 a barrel after falling for two days.

US WTI rose 3 cents to $ 49.20 a barrel.

Source: National Iraqi News Agency