By Debdeep Gupta | 16 Jan, 2025
Oil rises as US inventory declines heighten supply concerns
Oil prices rose for a second day on Thursday after a larger-than-expected decline in U.S. crude oil stockpiles added to supply concerns stoked by U.S. sanctions against Russian energy trade.Brent crude futures rose 30 cents, or 0.4%, to $82.33 per barrel by 0120 GMT, after rising 2.6% to its highest since July 26 in the previous session. U.S. West Texas Intermediate crude futures rose 32 cents, or...