Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies.
Brent crude futures, the international benchmark for oil prices, were at $58.27 at 0314 GMT, up 39 cents, or 0.7 percent from their last close - and a third above mid-year levels.
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U.S. West Texas Intermediate (WTI) crude futures were at $52.13 per barrel, up 25 cents, or 0.5 %, and almost a quarter above mid-June levels.
U.S. crude inventories fell by 7.1 million barrels in the week to Oct. 13 to 461.4 million barrels, the American Petroleum Institute (API) said late on Tuesday.
Trading Ideas
- Crudeoil trading range for the day is 3293-3423.
- Crude oil prices pared its gains as expectations of a ramp up in U.S. production weighed on sentiment.
- U.S. crude inventories fell by 7.1 million barrels in the week to Oct. 13 to 461.4 million barrels, the American Petroleum Institute (API) said.

















