Oil prices rise nearly 4% on Wednesday
12:24, 29 July 2026
Oil prices rose more than $3 a barrel on Wednesday, while US crude inventories shrank, WAM reported.
Brent futures increased by $3.30, or 3.9 percent, to $87.39 a barrel by 0300 GMT, while US West Texas Intermediate (WTI) crude rose $3.05, or 3.8 percent, to $82.31 a barrel.
US crude inventories fell by about 3.3 million barrels in the week ended 24th July, according to data from the American Petroleum Institute.
Earlier, it was reported that the Caspian Pipeline Consortium resumed oil intake from shippers and loading operations at its Black Sea terminal in Novorossiysk, Russia.