(VOVworld) - Oil prices have reached new peaks in 2015 after US commercial crude stockpiles unexpectedly slumped, the first decline in four months.

A Texas oil worker. Crude stockpiles have slumped, lifting the oil price (Photo: Supplied)

The US benchmark, West Texas Intermediate (WTI) for delivery in June, added 53 cents overnight to 60.93 USD a barrel on the New York Mercantile Exchange overnight, its highest level since early December.
Brent North Sea crude for June, the European benchmark, settled at 67.77 USD a barrel in London, up 25 cents from Tuesday and also its peak for the year to date.