Global oil prices rose Friday on latest news that US stockpiles had reached record highs.
Brent futures for April climbed by 0.6 percent, to $60.57 a barrel. US benchmark West Texas Intermediate futures for April gained by 0.98 percent, to $51.66 a barrel.
On Thursday, the US Department of Energy announced that country’s stockpiles increased by 7.716 million barrels during the last week, reaching a record high of 425.64 million barrels.
Global oil price could rise even higher in trading on further declining in the number of drilled oil wells in the United States. On Friday, American company Baker Hughes will announce the number of operating oil wells in the country for the end of the week. Earlier, the company reported that the number fell to a record low of 1,056 wells since 2011.
