After U.S. crude inventories increased less than expected last week and fuel inventories were sharply reduced, oil prices rose today.

West Texas Intermediate oil futures rose 18 cents to $79.31 per barrel. Brent futures rose 15 cents to $83.11 per barrel at 00:21 GMT. Saudi Arabia, the main oil exporter, raised the price of Arab light crude that it sells to Asia in April to $1.70 per barrel, above the Oman/Dubai average, according to trade sources