Oil prices rose slightly today, Wednesday, to sustain their gains at the previous meeting, supported by strong economic growth in the United States and disruptions in supplies from Venezuela and Russia.
Prompt contracts for Brent crude increased 4 cents or 0.06% to $62.42 per barrel, while the U.S. mediator crust increased 3 cents or 0.05% to $58.41.
Oil increased by more than 2 per cent on Monday, with the largest daily gains recorded in two months, while the mediator ' s western crude of Texas had the largest rise since 14 November, and oil prices rose by more than 0.5 per cent yesterday, Tuesday.
In its preliminary estimates of GDP for the third quarter of the year last Tuesday, the Economic Analysis Office of the United States Department of Commerce said that the American economy grew at a faster pace than expected, driven by consumer spending.
The U.S. Department of Energy Information is scheduled to issue its data on Monday, later than usual due to holidays.
