Crude oil prices continued to rise on Wednesday amid the unfolding trade row between the United States and Canada and the US and the European Union (EU).
Moreover, the markets were ostensibly affected by the US crude oil inventories report which indicated a less than expected increase in the country's crude oil inventories. At the same time, trade tensions between the US and Canada took a turn for the worse after the latter nation announced counter duties targeting $20.7 billion worth of goods.
West Texas Intermediate for deliveries in April rose 1.9% at 11:05 am ET, selling for $67.41 per barrel while Brent for deliveries in May added 1.5% two minutes later and sold for $70.57 per barrel.
