According to the report of Moqar National Newspaper, crude oil prices have recorded an increase due to estimates of reduction in US crude oil and petrol reserves.
Brent crude rose 32 cents, or 0.4 percent, to $81.01 a barrel yesterday. Brent oil is trading at around $80 per barrel today.
U.S. West Texas Intermediate (WTI) crude futures rose 33 cents, or 0.4 percent, to settle at $78.68 a barrel.
Reports indicated that rising tensions in the Middle East are likely to further increase oil prices.
