World crude oil trade on Wednesday 13 / 7 rose after the Fed governor said that he would provide a stimulus if the economy remains weak and U.S. crude oil inventories fell.
Light sweet crude rose 62 cents to $ 98.05 per barrel. Meanwhile, Brent crude rose 96 cents to U.S. $ 118.71 per barrel.
The weakening dollar sparked oil and other commodities considered more attractive. Especially after Fed governor prepared to ease monetary policy further if the economy weakens.
Last week the U.S. Energy Information Administration stated domestic crude oil inventories fell 3.1 million barrels. This is far below analysts' forecasts which predict only a drop of 1.8 million barrels. This data is the decline in U.S. oil for six consecutive weeks.
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