Brent crude grows over 2%

Oil prices have increased amid fears regarding Middle Eastern supplies and a decline in US crude inventories, trading data showed, Report informs.

The price of December futures for Brent crude on the London ICE Futures exchange rose by $2.21 (2.03%) to $111.03 per barrel compared to the close of the previous trading session.

December futures for WTI crude on electronic trading at the New York Mercantile Exchange (NYMEX) increased in price by $1.74 (1.79%) to $98.89 per barrel.

The market is supported by growing risks of supply disruptions from the Middle East following a drone attack on oil giant Saudi Aramco's Shaybah field, which killed two people. The US advised some diplomats and families of government employees to leave Saudi Arabia.

Meanwhile, on Wednesday, it was noted that crude inventories in the United States declined by 3.06 million barrels last week.