Algerian Radio
Oil prices rose by nearly two dollars at Wednesday's settlement.
Brent crude futures increased by $1.65, or 1.8%, to settle at $93.10 per barrel. Similarly, U.S. West Texas Intermediate (WTI) crude futures reached $90.03 at settlement, an increase of $1.83, or 2%.
Crude prices gave up some of their gains toward the end of the session.
The U.S. Energy Information Administration (EIA) reported that U.S. crude oil inventories fell by 7.2 million barrels in the week ending June 5. The data also showed that stocks in the U.S. Strategic Petroleum Reserve (SPR) have reached their lowest levels since August 2023.
