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Oil Prices Climb

Benzinga
Benzinga
Oil prices rose around 1% on Thursday as the International Energy Agency noted that rising gas prices would increase demand for oil. The agency believes that demand could increase 170,000 barrels per day. The IEA’s report was met with skepticism as Saudi Arabia dismissed any demands for increased production. Brent crude futures rose 89 cents to $84.07 per barrel and West Texas Intermediate futures rose 87 cents to $81.31 per barrel. Oil demand could rise as much as half a million barrels per day as the energy and industrial segments seek energy savings.

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