Oil prices rise for the third time

The crude oil rates went up for the third time in the current week after showing a decline in rates in the mid of the week. The cost of crude oil had went down to below $94 in the mid of the week when the reports showed rise in oil imports. The rise in imports of crude oil went up to 10.5 million barrels a day in the last week that was highest in the last three months.

The rates of Gasoline and heating oil declined yesterday as the rates of oil refining were up to highest in the last five weeks.

Market experts are suggesting that the rate change happened when the inventory management was done for oil and it is expected that the rate of oil will reach $100 a barrel in the coming weeks.