Crude prices rose on Wednesday after the International Energy Agency (IEA) raised demand forecast.
The IEA raised its forecast for global oil demand this year and next, based on stronger-than-expected economic growth.
The Paris-based agency expects global demand for crude to reach 86.9 million barrels a day this year, compared with its forecast last month of 86.6 million barrels a day.
Light, sweet crude for November delivery was up 1.34 U.S. dollars to settle at 83.01 dollars a barrel on the New York Mercantile Exchange.
In London, Brent crude climbed 1.14 dollars to settle at 84.64 dollars a barrel on the ICE Futures exchange.
The IEA raised its forecast for global oil demand this year and next, based on stronger-than-expected economic growth.
The Paris-based agency expects global demand for crude to reach 86.9 million barrels a day this year, compared with its forecast last month of 86.6 million barrels a day.
Light, sweet crude for November delivery was up 1.34 U.S. dollars to settle at 83.01 dollars a barrel on the New York Mercantile Exchange.
In London, Brent crude climbed 1.14 dollars to settle at 84.64 dollars a barrel on the ICE Futures exchange.
