Crude oil rises for third day as rate hike concerns ease

Global crude oil prices on 8th Feb 2023 rose for a third straight day as investor concern eased about U.S. interest rate hikes. The crude prices climbed more than one per cent supported by an industry report also pointed to a drop in U.S. crude inventories. In intra-day trade, Brent crude was trading at 84 dollars and 60 cents per barrel while WTI crude price was at 78 dollars and 20 cents per barrel.