Oil Rises as US Re­ports Drop in In­ven­tory

The Economic Times - - Finance & Commodities -

Oil prices rose more than $1 a bar­rel af­ter US data showed a sur­prise de­cline in in­ven­to­ries, sug­gest­ing that a global glut may be end­ing af­ter moves by Opec to cut pro­duc­tion. Brent crude oil jumped $1.08 a bar­rel to $56.92 be­fore eas­ing back to $56.85 by 1315 GMT.

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