TOKYO – Brent crude futures rose 47 cents, or 0.6 percent, to $79.43 a barrel, while U.S. West Texas Intermediate crude gained 48 cents, or 0.6 percent, to $76.53 a barrel.
The two benchmark crude oils fell by about five percent on Tuesday for the second consecutive session to their lowest levels in three months, amid hopes that the agreement between the United States and Iran will allow oil supplies to flow.
On the other hand, a report from the American Petroleum Institute showed that US crude oil inventories fell by 8.3 million barrels in the week ending June 12.
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This decline exceeded expectations of a 4.6 million barrel drop. Official figures from the Energy Information Administration are due to be released later today.
