Oil Prices Rise 2%

The market price of oil rose 2% on Sept 21 in response to the third week of surprising drops in U.S. crude oil stockpiles. The Energy Information Administration (EIA) reported crude inventories fell 6.2 million barrels the week of Sept 19. Since Sept 2 the crude inventory stockpile has fallen 14.5 million barrels, the biggest drop since a major storm in 1999 disrupted imports. Brent oil price was up 84 cents on Wednesday (Sept 21) and West Texas Intermediate rose $1.5 to $45.10 per barrel.