Oil prices rise on OPEC-led supply cuts, report of falling US crude inventories
Updated : February 27, 2019 08:02 AM IST
US West Texas Intermediate (WTI) crude oil futures were at $56.02 per barrel at 0100 GMT, up 52 cents, or 0.9 percent, from their last settlement.
International Brent crude futures were at $65.55 per barrel, up 34 cents, or 0.5 percent from their last close.
US crude oil inventories fell by 4.2 million barrels in the week to February 22, to 444.3 million barrels, the American Petroleum Institute (API) estimated in a weekly report on Tuesday.