Oil prices rally after Trump threatens missiles in Syria

APD NEWS

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Oil prices rose on Wednesday amid rising geopolitical tensions in the Middle East.

In a tweet on Wednesday morning, US President Donald Trump warned Russia to get ready for missile attacks in Syria. Analysts said this tweet gave investors fresh concerns over the potential disruption of oil supply in the region.

Oil prices rallied following Trump's words, with the Brent oil price touching the highest level in more than three years.

On the data front, the US Energy Information Agency said in its weekly report on Wednesday that the commercial crude inventories in the United States rose by 3.3 million barrels in the week through April 6 as oil imports jumped, beating market expectations.

The West Texas Intermediate (WTI) for May delivery rose 1.31 US dollar to settle at 66.82 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery added 1.02 dollar to close at 72.06 dollars a barrel on the London ICE Futures Exchange.

(XINHUA NEWS AGENCY)