Energy futures settled higher Wednesday as a smaller-than-expected US crude build added momentum to an overnight rally, fueled by reports out of China that a medical treatment for the coronavirus had been developed. ICE April Brent settled $1.32 higher at $55.28/b and NYMEX March WTI was up $1.14 at $50.75/b. US commercial crude inventories increased 3.36 million barrels during the week ended January 31 to 435.01 million barrels, the US Energy Information Administration data showed Wednesday. The build put stocks 2.3% below the five-year average, and was less than an American Petroleum Institute Tuesday forecast for a 4.2 million-barrel build. NYMEX March ULSD settled up 6.15 cents at $1.6454/gal and March RBOB was 4.31 cents higher day on day at $1.4863/gal.
展开▼
