Oil ends higher after surprise drop in crude stocks

Oil futures settled higher Thursday, jumping after an unexpected fall in U.S. crude inventories. West Texas Intermediate crude for April delivery on the New York Mercantile Exchange rose $1.09, or 1.8%, to settle at $62.77 a barrel. Oil turned higher after the Energy Information Administration said crude stocks fell by more than 1.6 million barrels last week, compared with expectations for a rise in inventories.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply