Dubai -Massader News
Oil prices rose on Wednesday. Brent crude futures for July delivery rose by 2.8% to $ 76.9 a barrel following the US president’s decision to withdraw from the Iranian nuclear deal, according to a report published by Mubasher.
Nymex crude futures were up to $ 70.92 a barrel, rose by 2.7% from $ 71.6 a barrel.
The US Energy Information Administration raised its forecast for US production this year by 0.3% to 10.72 million bpd, compared to 9.4 million bpd in 2017.
The US Petroleum Institute announced yesterday, a decline in the US oil inventories by 1.9 million barrels in the week ended May 4.