Crude oil rises to 58.80 dollars per barrel

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London: Brent crude oil prices rose to 58.80 dollars per barrel, as it is increased by 1.10 dollars in international future trade market. Crude oil prices increased by 93 Cent in London International market.

While in United States Crude Oil prices reached to 52.54 dollars per barrel. Oil increased by 1.10 dollars in US oil market.

Traders said that current boost in oil prices is due to reduction of oil production in US.