Crude oil prices rise despite US oil supplies increased more than expected

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Source: Forexpros
© Scanpix/FP

Crude oil futures experienced essential increase on Wednesday despite release of report indicating US crude oil supplies rose more than expected during last week. The move was mainly caused by news on coordinated action by global central banks aimed at injecting liquidity into financial system. On the New York Mercantile Exchange, crude oil futures for delivery in January were traded at $101.44 a barrel at the early U.S. morning trade, gaining 1.65% since opening.

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Thu, 01 Dec 2011 07:43:06 GMT

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