LONDON, July 2: Oil prices rose close to record highs on Wednesday as official data revealed a drop in stockpiles of US crude, traders said.
Brent North Sea crude oil for August delivery jumped $2.60 to $143.26 a barrel. New York’s main oil contract, light sweet crude for August, added $1.98 to $141.95.
The US Energy Information Administration said on Wednesday that stockpiles of crude had fallen by 2.0 million barrels in the week to June 27. Oil prices had rocketed to record highs on Monday owing to tensions over Iran and Nigeria.—AFP
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