International crude oil prices rose two per cent on Wednesday, March 13, after Ukrainian attacks on Russian refineries threatened supply disruptions and a decline in US crude inventories supported prices. Energy Information Administration (EIA) data revealed that US crude stockpiles dropped by 1.5 million barrels to 446.99 million barrels in the week to March 8.
Coming to the benchmarks, Brent crude futures for May were up $1.54, or 1.88 per cent, to $83.46 per barrel, while the US West Texas Intermediate crude for April gained $1.59, or 2.05 per cent, to $79.15, according to news agency Reuters. Brent prices remains range-bound despite Wednesday’s rally.
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Published: 13 Mar 2024, 10:30 PM IST