Oil Prices Return to Rise Upon Settlement

New York: Oil prices rose at settlement at the end of Wednsdays trading, after three consecutive days of losses. Brent crude futures contracts recorded an increase of $1.35, or 1.61 percent, to reach $85.08 per barrel upon settlement. US West Texas Intermediate crude futures rose by $2.09, or 2.59 percent, to reach $82.85 per barrel upon settlement. Crude oil prices fell last week after four weeks of gains, as hopes for a recovery in summer demand in the United States were met with other concerns about demand in China, and Chinese economic data reinforced those concerns. Source: Qatar News Agency