By Srinivas Chowdary Sunkara // petrobazaar // 22-11-2017
Crude oil prices spiked on Wednesday. U.S crude oil prices climbs two year high after July,2015 as the 85 percent cut in the amount of oil TransCanada Corp will deliver to the United states on its keystone pipeline through the end of November, announced by the company on Tuesday. API report of drop in U.S crude oil stocks is getting justified after the crude oil shortage through pipeline breakage.Brent futures have risen on speculation that the OPEC and its partners will decide to extend production cuts beyond March.
WTI and Brent price today
U.S crude oil futures WTI for January delivery rose around 88 cents or 1.548% at $57.71 per barrel on Nymex while Brent oil futures to be delivered in January were up by 41 cents or 0.655% a barrel on London based ICE futures Europe exchange by 9:38 p.m IST.