Oil prices rose today, gaining for a fourth straight day, as a sharp drop in US crude stocks overshadowed persistent worries that the euro zone debt crisis would curtail global oil demand.
US crude futures increased by 36 cents to stand at $99.03 a barrel, while Brent crude settled 98 cents higher at $107.71 a barrel, reports Reuters.
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US Government data showed domestic crude stocks fell 10.6 million barrels last week to 323.6 million barrels, after logging the biggest weekly inventory draw down in nearly 11 years.
