Oil prices rise as crude stockpiles in US fall to lowest since January 2020

Oil prices yesterday rose as crude stockpiles in the United States, the world’s top oil consumer, fell to their lowest since January 2020.

In intra-day trade, Brent crude prices were trading around 75 dollars per barrel. WTI crude prices were trading around 72 dollars and 70 cents per



barrel.

Brent topped 75 dollar a barrel for the first time in more than two years in June, but fell back sharply earlier this month on fears about the rapid spread of the Delta variant and a compromise deal by leading OPEC producers to increase supply.