The prices of oil futures continued to rise on Wednesday after both the American Petroleum Institute (API) and the Energy Information Administration (EIA) reported a decline in the United States inventories, seemingly raising concern about the stability of the commodity's supply.
West Texas Intermediate (WTI) for deliveries in August surged by 2.53% at 2:46 pm ET to sell for $82.79 per barrel. Meanwhile, Brent for September's settlements soared by 1.67% to go for $85.12 per barrel.
