Brent crude settled at $67.90 a barrel, gaining 38 cents, or 0.6%. U.S. West Texas Intermediate crude settled at $64.44 a barrel, rising 43 cents, or 0.7%.
U.S. gasoline stocks dropped by 11.9 million barrels last week and distillates, which include diesel and heating oil, fell 5.5 million barrels, the Energy Information Administration said, sharper than analysts’ expectations in a Reuters poll for a 3.5 million-barrel drop each. [EIA/S]
Crude oil stocks, however, jumped 13.8 million barrels last week, far exceeding forecasts for a 816,000-barrel rise, as the nation’s oil industry continued to feel the effects of a winter storm mid-February that stalled refining and forced production shut-ins in Texas. [EIA/S]
Reference: Reuters
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