Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the US, the world’s biggest fuel consumer.

Brent crude futures for October rose 92 cents, or 1.1%, to $85.83 a barrel, while US West Texas Intermediate crude climbed 84 cents, or 1.03%, to $82.21 a barrel.

Both benchmarks settled lower on Tuesday, breaking a three day streak of gains.

US oil inventories fell by 15.4 million barrels in the week ended July 28, according to market sources citing American Petroleum Institute figures, compared with analysts’ estimates for a drop of 1.37 million barrels. (QNA)

Source: Qatar News Agency