Oil prices rose in Asian trading as markets assessed escalating tensions in the Middle East against a surprise increase in U.S. crude inventories that pushed oil prices down about 80 cents in the previous session.
U.S. West Texas Intermediate crude futures rose 20 cents, or 0.28 percent, to $71.57 a barrel. Brent crude futures rose 21 cents, or 0.27 percent, to $77.01 a barrel. The Energy Information Administration said U.S. crude inventories rose 1.3 million barrels in the week ended Jan. 5 to 432.4 million barrels, versus analysts' expectations of a decline of 700,000 barrels.
Source (Al-Arabiya.net Website, Edited)
