Oil Prices Rise for Fourth Straight Week: Brent Crude Hits New Highs

Oil Prices Rise Brent Crude and WTI Futures Climb Oil prices rise for the fourth consecutive week, hitting their highest levels since late April. Brent crude futures saw a modest increase of 0.13%, bringing the price to $87.54 a barrel. Similarly, U.S. West Texas Intermediate (WTI) crude futures rose by 0.29%, reaching $84.12. Significant Draw in U.S. Inventories The U.S. Energy Information Administration (EIA) reported a substantial draw in oil inventories, with a reduction of 12.2 million barrels