High oil prices

Singapore-Sana

Oil prices rose today after a sharp drop in US crude inventories.

Reuters reported that US West Texas Intermediate crude futures rose 48 cents, equivalent to 0.7 percent, to $ 66.17 a barrel.

Brent crude futures rose 49 cents, or 0.7 percent, to $ 69.37 a barrel, after touching a more than seven-week high at $ 69.78 earlier in the session.

And contracts for both benchmarks rose nearly 2 percent yesterday, ahead of data from the American Petroleum Institute.