Oil Rises Above $110 as U.S. Crude Stocks Fall

- August 24th, 2011

Reuters Africa reports that Oil prices inched up by more than 1 percent to above $110 a barrel.

Reuters Africa reports that Oil prices inched up by more than 1 percent to above $110 a barrel.

The market news is quoted as saying:

The U.S. Energy Information Administration (EIA) said crude stocks in the world’s largest oil consumer fell by a surprise 2.2 million barrels last week, against analyst forecasts for a 800,000 barrel rise.

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