Crude oil prices rise today breaking a 6-day drop
NEW DELHI : Breaking a six-day losing streak, crude oil prices started to climb up once again today on reports of decrease in US oil reserves. Last month, crude rates surged to over $70 a barrel after an attack on Saudi oil facilities impacted global crude supply.
Brent crude futures, the international benchmark for oil prices, was down 17 cents at $58.72 a barrel by 0846 GMT while US West Texas Intermediate (WTI) crude futures rose 13 cents to $53.75 a barrel.
Front-month WTI prices settled down for a sixth straight session on Tuesday, their longest losing streak this year. Prices were supported by the news of a drop in US manufacturing activity data.
