EnergyWatch

Falling stockpiles, rising demand raise oil prices

It's the fifth consecutive day of price increase for the European reference oil.

Photo: FRED TANNEAU/AFP / AFP

Oil prices increase Wednesday morning CET on declining US stockpiles and improved demand.

A barrel of European reference crude Brent costs USD 74.68 against USD 73.64 Tuesday afternoon, with US West Texas Intermediate concurrently trading at USD 72.76 against USD 71.76.

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