US oil rises after report shows drop in stockpiles

US oil rises after report shows drop in stockpiles
US oil rises after report shows drop in stockpiles

Brent crude was yet to trade. It ended 82 cents, or 1.5 percent, lower at $55.84 a barrel on Wednesday.

Crude inventories fell by 884,000 barrels in the week to Feb. 17 to 512.7 million, compared with analysts' expectations for an increase of 3.5 million barrels, data from industry group the American Petroleum Institute showed on Wednesday. [API/S]

Crude stocks at the Cushing, Oklahoma, delivery hub were down by 1.7 million barrels and U.S. crude imports fell last week by 1.5 million barrels per day (bpd) to 7.398 million bpd, according to the API.

CNBC

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