HotTV
Oil prices climbed on Wednesday.
The West Texas Intermediate for July delivery went up 2.26 U.S. dollars, or 2.41 percent, to settle at 96.02 dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery gained 1.81 dollars, or 1.89 percent, to settle at 97.81 dollars a barrel on the London ICE Futures Exchange.
Crude futures settle higher
U.S. crude oil inventories fell for the sixth straight week, driven by rising exports and near-full refinery operations, the Energy Information Administration (EIA) said Wednesday.
As of May 29, commercial oil stocks and the strategic reserve declined by about 8 million barrels from the previous week, far exceeding analysts' forecasts.
The sharper-than-expected decline underscores strong demand pressures as refiners run at high capacity and exports remain elevated.
US crude oil inventories fall for sixth straight week
