The prices of oil futures rose on Thursday as investors reacted to the decline in exports of the commodity from the world's largest oil exporter, Saudi Arabia, seemingly fueling uncertainty regarding oil's global supply.
Moreover, the US Energy Information Administration showed a bigger-than-expected reduction in the country's stockpiles, further contributing to supply concerns.
West Texas Intermediate (WTI) for October's deliveries soared by 1.85% at 11:37 am ET to sell for $73.26 per barrel. A minute later, Brent for October's settlements surged by 1.80% to go for $77.43 per barrel.
