Oil Climbs Above $84

20 April 2010 (Last Updated April 20th, 2010 18:30)

Oil prices climbed above $84 a barrel today boosted by an unexpected drop in US fuel stockpiles. For June delivery, US crude gained 75¢ to $84.60 a barrel by 3am EDT while London Brent rose 81¢ to $85.61, reports Reuters. Data from American Petroleum Institute showed

Oil prices climbed above $84 a barrel today boosted by an unexpected drop in US fuel stockpiles.

For June delivery, US crude gained 75¢ to $84.60 a barrel by 3am EDT while London Brent rose 81¢ to $85.61, reports Reuters.

Data from American Petroleum Institute showed crude inventories fell 741,000 barrels for the week ended 16 April, while petrol stocks decreased 1.7 million barrels and distillates lost 3.1 million barrels.