Oil futures climbed Wednesday to settle at their highest level since early February, buoyed by an unexpected weekly decline in U.S. crude stockpiles, as well as ongoing geopolitical risks to global production. May West Texas Intermediate crude rose $1.63, or 2.6%, to settle at $65.17 a barrel on the New York Mercantile Exchange. That was the highest settlement since Feb. 2, according to FactSet data.
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