Mubasher: Oil prices rose on Wednesday, marking the end of the worst ever streak of declines for American crude that lasted for 12 consecutive sessions.

Nymex futures for December delivery rose by 56 cents, or around 1%, to settle at the level of $56.25 per barrel.

On the other hand, Brent crude futures for January delivery added 65 cents and reached $66.12 a barrel, however, it is still down 22% from its peak in last month.

Uncertainties regarding production policies, as well as a build-up in inventories and an expected decline in global demand led the recent fluctuations in oil prices.